Coterra Energy (NYSE:CTRA) Price Target Raised to $29.00

Coterra Energy (NYSE:CTRA) had its price objective lifted by Morgan Stanley from $27.00 to $29.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other research analysts have also issued research reports about the company. Barclays increased their price target on Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday. Wells Fargo & Company decreased their price target on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. UBS Group dropped their price objective 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. Stephens raised their target price on shares of Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Mizuho upped their price target on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus target price of $32.41.

Coterra Energy Trading Up 0.6 %

Coterra Energy stock opened at $25.58 on Thursday. The stock has a market cap of $18.84 billion, a PE ratio of 15.41, a P/E/G ratio of 1.67 and a beta of 0.22. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average price of $23.95 and a 200 day moving average price of $25.46. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $28.90.

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

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.28%. Coterra Energy’s dividend payout ratio (DPR) is 50.60%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CTRA. Geode Capital Management LLC boosted its position in shares of Coterra Energy by 0.7% in the third quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock worth $453,628,000 after buying an additional 128,397 shares during the period. Disciplined Growth Investors Inc. MN boosted its holdings in Coterra Energy by 5.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock worth $128,085,000 after acquiring an additional 284,106 shares during the period. M&T Bank Corp grew its position in Coterra Energy by 2.1% in the third quarter. M&T Bank Corp now owns 311,092 shares of the company’s stock valued at $7,451,000 after acquiring an additional 6,321 shares in the last quarter. Barclays PLC raised its stake in shares of Coterra Energy by 3.1% during the third quarter. Barclays PLC now owns 2,147,263 shares of the company’s stock valued at $51,425,000 after purchasing an additional 64,753 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Coterra Energy by 0.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,221,403 shares of the company’s stock worth $29,253,000 after purchasing an additional 6,938 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.