Truist Financial Forecasts Strong Price Appreciation for Coterra Energy (NYSE:CTRA) Stock

Coterra Energy (NYSE:CTRA) had its target price lifted by Truist Financial from $31.00 to $33.00 in a research note published on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities analysts have also issued reports on the company. Susquehanna boosted their target price on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday. Wolfe Research initiated coverage on Coterra Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $35.00 target price for the company. Stephens boosted their target price on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Barclays boosted their target price on Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Piper Sandler lifted their price objective on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday. Two investment 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $32.41.

Coterra Energy Price Performance

Shares of CTRA stock opened at $25.58 on Thursday. The stock has a 50-day moving average price of $23.95 and a 200 day moving average price of $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 firm has a market cap of $18.84 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.67 and a beta of 0.22. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $28.90.

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

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders 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 of this dividend is Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is 50.60%.

Institutional Investors Weigh In On Coterra Energy

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in Coterra Energy by 0.7% during the third quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock worth $453,628,000 after acquiring an additional 128,397 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its stake in shares of Coterra Energy by 5.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock worth $128,085,000 after purchasing an additional 284,106 shares during the last quarter. M&T Bank Corp raised its holdings in shares of Coterra Energy by 2.1% in the 3rd quarter. M&T Bank Corp now owns 311,092 shares of the company’s stock valued at $7,451,000 after purchasing an additional 6,321 shares during the period. Barclays PLC lifted its stake in Coterra Energy by 3.1% in the 3rd 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 last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in 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 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.