Coterra Energy (NYSE:CTRA) Price Target Raised to $30.00

Coterra Energy (NYSE:CTRA) had its target price raised by Roth Mkm from $27.00 to $30.00 in a research report sent to investors on Friday,MarketScreener reports. Roth Mkm currently has a buy rating on the stock.

A number of other research analysts have also issued reports on CTRA. Zacks Research lowered Coterra Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Johnson Rice reduced their target price on Coterra Energy from $38.00 to $37.00 in a report on Friday, December 5th. Susquehanna decreased their target price on Coterra Energy from $32.00 to $31.00 and set a “positive” rating on the stock in a research report on Monday, October 20th. Morgan Stanley dropped their target price on Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. Finally, William Blair assumed coverage on shares of Coterra Energy in a research report on Wednesday, November 26th. They set an “outperform” rating and a $36.00 price target on the stock. Sixteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.71.

Coterra Energy Trading Up 0.6%

NYSE CTRA opened at $27.44 on Friday. Coterra Energy has a 1 year low of $22.33 and a 1 year high of $29.82. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.98. The company has a market capitalization of $20.89 billion, a PE ratio of 12.64, a P/E/G ratio of 0.61 and a beta of 0.36. The company has a fifty day moving average of $26.10 and a 200 day moving average of $24.80.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The business’s quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 EPS. Research analysts forecast that Coterra Energy will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.2%. Coterra Energy’s dividend payout ratio is currently 40.55%.

Institutional Investors Weigh In On Coterra Energy

Hedge funds have recently added to or reduced their stakes in the company. Davis Selected Advisers boosted its position in shares of Coterra Energy by 112.9% during the 3rd quarter. Davis Selected Advisers now owns 19,883,481 shares of the company’s stock worth $470,244,000 after purchasing an additional 10,545,340 shares in the last quarter. Vanguard Group Inc. increased its stake in Coterra Energy by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock valued at $2,341,151,000 after purchasing an additional 3,781,606 shares in the last quarter. AQR Capital Management LLC raised its holdings in Coterra Energy by 287.7% during the third quarter. AQR Capital Management LLC now owns 4,573,111 shares of the company’s stock worth $108,154,000 after purchasing an additional 3,393,697 shares during the last quarter. Truist Financial Corp boosted its position in shares of Coterra Energy by 165.3% in the 2nd quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock worth $106,934,000 after buying an additional 2,625,126 shares in the last quarter. Finally, HITE Hedge Asset Management LLC lifted its holdings in shares of Coterra Energy by 308.9% in the third quarter. HITE Hedge Asset Management LLC now owns 2,362,900 shares of the company’s stock valued at $55,883,000 after purchasing an additional 1,784,967 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

About Coterra Energy

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.