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

Coterra Energy (NYSE:CTRA) had its price target raised by Truist Financial from $33.00 to $37.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently issued reports on the stock. Mizuho upped their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Citigroup upped their price objective on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Susquehanna lifted their target price on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. UBS Group increased their price target on Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Barclays lifted their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Two 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.76.

Coterra Energy Trading Up 0.8 %

Shares of Coterra Energy stock opened at $29.10 on Monday. 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 firm has a market cap of $21.44 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 1.64 and a beta of 0.27. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $29.19. The business has a 50-day moving average price of $25.84 and a 200-day moving average price of $24.98.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data 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). The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.47 EPS. Equities research analysts anticipate that Coterra Energy will post 1.53 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s payout ratio is presently 50.60%.

Insider Activity

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the transaction, the senior vice president now owns 77,075 shares in the company, valued at approximately $2,016,282. This represents a 27.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total transaction of $439,800.60. Following the sale, the senior vice president now 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 disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Coterra Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTRA. City State Bank acquired a new position in shares of Coterra Energy in the fourth quarter valued at about $26,000. AdvisorNet Financial Inc boosted its position in Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after buying an additional 744 shares during the last quarter. Values First Advisors Inc. acquired a new position in Coterra Energy in the 3rd quarter worth approximately $57,000. Tobam purchased a new position in Coterra Energy during the 3rd quarter worth approximately $63,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Coterra Energy in the 3rd quarter valued at $67,000. Hedge funds and other 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.