Mizuho Raises Coterra Energy (NYSE:CTRA) Price Target to $37.00

Coterra Energy (NYSE:CTRA) had its price objective increased by Mizuho from $36.00 to $37.00 in a research report sent to investors on Friday morning, Benzinga reports. Mizuho currently has an outperform rating on the stock.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company decreased their target price on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. UBS Group dropped their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Piper Sandler reduced their price objective on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Barclays lowered their target price on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Finally, Susquehanna reduced their price target on Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.24.

Coterra Energy Trading Down 5.1 %

NYSE:CTRA traded down $1.21 on Friday, hitting $22.71. The stock had a trading volume of 12,178,921 shares, compared to its average volume of 6,230,813. The company has a fifty day moving average price of $23.79 and a two-hundred day moving average price of $25.70. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $28.90. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The stock has a market cap of $16.79 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 1.49 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the company posted $0.38 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. Equities research analysts expect that Coterra Energy will post 1.62 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a $0.21 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.70%. Coterra Energy’s dividend payout ratio is presently 50.60%.

Institutional Trading of Coterra Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Quarterback LLC raised its position in Coterra Energy by 4.3% in the 3rd quarter. Wealth Quarterback LLC now owns 31,694 shares of the company’s stock valued at $759,000 after purchasing an additional 1,319 shares during the last quarter. Assetmark Inc. raised its stake in Coterra Energy by 11.7% during the 3rd quarter. Assetmark Inc. now owns 93,849 shares of the company’s stock valued at $2,248,000 after acquiring an additional 9,840 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Coterra Energy in the third quarter valued at approximately $67,000. Summit Global Investments purchased a new stake in shares of Coterra Energy during the third quarter worth approximately $621,000. Finally, Verity Asset Management Inc. lifted its holdings in shares of Coterra Energy by 1.5% during the third quarter. Verity Asset Management Inc. now owns 53,273 shares of the company’s stock worth $1,276,000 after purchasing an additional 778 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

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.