Piper Sandler Issues Positive Forecast for Coterra Energy (NYSE:CTRA) Stock Price

Coterra Energy (NYSE:CTRA) had its target price raised by Piper Sandler from $32.00 to $35.00 in a report issued on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other equities analysts have also recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. JPMorgan Chase & Co. lowered their price objective on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Truist Financial lowered their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Morgan Stanley decreased their target price on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Finally, Scotiabank decreased their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and an average price target of $32.41.

Coterra Energy Stock Performance

Shares of NYSE CTRA opened at $25.58 on Thursday. The firm’s 50-day moving average price is $23.95 and its 200-day moving average price is $25.46. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The company has a market cap of $18.84 billion, a PE ratio of 15.41, a PEG ratio of 1.67 and a beta of 0.22. Coterra Energy has a 52-week low of $22.30 and a 52-week high of $28.90.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the business earned $0.47 EPS. The business’s revenue was up .2% compared to the same quarter last year. As a group, analysts anticipate that Coterra Energy will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s payout ratio is currently 50.60%.

Institutional Investors Weigh In On Coterra Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Coterra Energy in the first quarter valued at $656,000. Quadrature Capital Ltd grew its holdings in shares of Coterra Energy by 112.2% in the first quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock valued at $2,018,000 after purchasing an additional 38,278 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in shares of Coterra Energy by 130.3% in the first quarter. CreativeOne Wealth LLC now owns 56,860 shares of the company’s stock valued at $1,586,000 after purchasing an additional 32,173 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Coterra Energy by 5.0% in the second quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after purchasing an additional 56,748 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its holdings in shares of Coterra Energy by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after purchasing an additional 51,249 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

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.