Coterra Energy (NYSE:CTRA) Price Target Increased to $32.00 by Analysts at Susquehanna

Coterra Energy (NYSE:CTRA) had its price target raised by Susquehanna from $30.00 to $32.00 in a research report report published on Monday, Benzinga reports. The firm currently has a positive rating on the stock.

Several other brokerages also recently commented on CTRA. Barclays began coverage on shares of Coterra Energy in a report on Wednesday, April 10th. They issued an overweight rating and a $36.00 target price for the company. Piper Sandler increased their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the company an overweight rating in a research report on Friday. Truist Financial reduced their price target on shares of Coterra Energy from $30.00 to $27.00 and set a hold rating for the company in a research report on Friday, April 5th. Scotiabank increased their price target on shares of Coterra Energy from $31.00 to $35.00 and gave the company a sector outperform rating in a research report on Thursday, April 11th. Finally, Bank of America upgraded shares of Coterra Energy from a neutral rating to a buy rating and set a $31.00 price target for the company in a research report on Friday, January 5th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $32.47.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $27.95 on Monday. The firm has a 50-day moving average of $26.78 and a 200-day moving average of $26.40. The company has a market cap of $21.01 billion, a P/E ratio of 13.06 and a beta of 0.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18. Coterra Energy has a one year low of $22.91 and a one year high of $29.89.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.06). The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. Equities research analysts forecast that Coterra Energy will post 1.93 EPS for the current fiscal year.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.21 dividend. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Wednesday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is 39.25%.

Insider Activity

In other news, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the transaction, the vice president now directly owns 93,988 shares in the company, valued at $2,449,327.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the sale, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the completion of the sale, the vice president now directly owns 93,988 shares in the company, valued at $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coterra Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. SouthState Corp raised its stake in Coterra Energy by 75.4% in the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after purchasing an additional 454 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new position in shares of Coterra Energy during the fourth quarter worth approximately $33,000. VisionPoint Advisory Group LLC raised its stake in shares of Coterra Energy by 133.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after acquiring an additional 740 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new position in shares of Coterra Energy during the fourth quarter worth approximately $33,000. Finally, Harbor Investment Advisory LLC raised its stake in shares of Coterra Energy by 869.3% during the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after acquiring an additional 1,443 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

About Coterra Energy

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company's properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.