Coterra Energy (NYSE:CTRA) Price Target Raised to $32.00

Coterra Energy (NYSE:CTRA) had its target price raised by Citigroup from $28.00 to $32.00 in a research report sent to investors on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other research firms have also weighed in on CTRA. Susquehanna lifted their target price on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday, November 14th. UBS Group upped their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Piper Sandler increased their target price on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Scotiabank cut their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $32.47.

Coterra Energy Price Performance

Shares of CTRA opened at $26.68 on Tuesday. The business’s 50-day moving average is $24.65 and its two-hundred day moving average is $25.41. The company has a market capitalization of $19.65 billion, a P/E ratio of 16.07, a P/E/G ratio of 1.75 and a beta of 0.22. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $28.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

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

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s dividend payout ratio is currently 50.60%.

Insider Activity

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the transaction, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at $1,937,664.84. The trade was a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Coterra Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. lifted its holdings in Coterra Energy by 8.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 15,621 shares of the company’s stock valued at $431,000 after acquiring an additional 1,215 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Coterra Energy by 57.1% in the 1st quarter. Tidal Investments LLC now owns 179,938 shares of the company’s stock valued at $5,016,000 after purchasing an additional 65,368 shares during the last quarter. Wahed Invest LLC grew its holdings in shares of Coterra Energy by 15.5% during the 1st quarter. Wahed Invest LLC now owns 13,949 shares of the company’s stock worth $389,000 after purchasing an additional 1,874 shares during the period. Independent Wealth Network Inc. increased its position in shares of Coterra Energy by 9.0% during the 1st quarter. Independent Wealth Network Inc. now owns 10,350 shares of the company’s stock worth $289,000 after purchasing an additional 851 shares during the last quarter. Finally, Atria Investments Inc raised its holdings in Coterra Energy by 12.0% in the 1st quarter. Atria Investments Inc now owns 112,562 shares of the company’s stock valued at $3,138,000 after buying an additional 12,049 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Company Profile

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.