Coterra Energy (NYSE:CTRA) Price Target Raised to $34.00

Coterra Energy (NYSE:CTRA) had its target price boosted by Stephens from $33.00 to $34.00 in a report issued on Thursday,MarketScreener reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. The Goldman Sachs Group decreased their price objective on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, October 15th. JPMorgan Chase & Co. cut their price target on Coterra Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. Siebert Williams Shank raised their price objective on Coterra Energy from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Morgan Stanley dropped their price objective on Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coterra Energy in a research report on Monday, December 29th. Sixteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and an average price target of $32.81.

Coterra Energy Stock Up 2.8%

Shares of NYSE:CTRA opened at $28.84 on Thursday. The company has a market capitalization of $21.96 billion, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 0.66 and a beta of 0.36. The company has a 50 day moving average of $26.31 and a two-hundred day moving average of $24.90. Coterra Energy has a 52-week low of $22.33 and a 52-week high of $29.82. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Monday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.02). The firm had revenue of $1.82 billion during 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%. Coterra Energy’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 earnings per share. As a group, analysts forecast that Coterra Energy will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Thursday, November 13th. Coterra Energy’s dividend payout ratio (DPR) is currently 40.55%.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Coterra Energy by 4.0% during the third quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after acquiring an additional 3,781,606 shares during the last quarter. State Street Corp boosted its stake in Coterra Energy by 0.9% during the 2nd quarter. State Street Corp now owns 45,588,319 shares of the company’s stock valued at $1,157,032,000 after purchasing an additional 386,526 shares during the period. Charles Schwab Investment Management Inc. grew its position in Coterra Energy by 5.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock worth $680,197,000 after purchasing an additional 1,495,553 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Coterra Energy by 2.5% in the third quarter. Victory Capital Management Inc. now owns 21,581,809 shares of the company’s stock valued at $510,410,000 after purchasing an additional 534,132 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Coterra Energy by 4.8% in the second quarter. Geode Capital Management LLC now owns 20,685,670 shares of the company’s stock valued at $522,936,000 after purchasing an additional 953,824 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Company Profile

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.