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

Coterra Energy (NYSE:CTRA) had its price target boosted by Susquehanna from $30.00 to $32.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a positive rating on the stock.

Several other research firms also recently weighed in on CTRA. Bank of America raised Coterra Energy from a neutral rating to a buy rating and set a $31.00 price target for the company in a research report on Friday, January 5th. Morgan Stanley raised their price objective on Coterra Energy from $26.00 to $29.00 and gave the stock an equal weight rating in a report on Wednesday, April 17th. Stifel Nicolaus decreased their price objective on Coterra Energy from $33.00 to $31.00 and set a buy rating on the stock in a report on Friday, March 22nd. Truist Financial decreased their price objective on Coterra Energy from $30.00 to $27.00 and set a hold rating on the stock in a report on Friday, April 5th. Finally, Stephens reiterated an overweight rating and issued a $39.00 target price on shares of Coterra Energy in a report on Tuesday, January 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $32.47.

Coterra Energy Stock Performance

CTRA opened at $28.45 on Monday. The stock has a market cap of $21.39 billion, a P/E ratio of 13.29 and a beta of 0.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18. The stock’s 50 day simple moving average is $26.95 and its 200 day simple moving average is $26.42. Coterra Energy has a 1-year low of $22.91 and a 1-year high of $29.89.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. As a group, equities analysts anticipate that Coterra Energy will post 1.88 EPS for the current fiscal year.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.21 dividend. The ex-dividend date was Wednesday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 2.95%. Coterra Energy’s dividend payout ratio (DPR) is 39.25%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the transaction, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the sale, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the sale, the vice president now directly owns 93,988 shares in the company, valued at $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Coterra Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Beacon Investment Advisors LLC increased its position in shares of Coterra Energy by 0.7% during the third quarter. Beacon Investment Advisors LLC now owns 62,447 shares of the company’s stock worth $1,689,000 after acquiring an additional 422 shares during the last quarter. Stone House Investment Management LLC increased its position in shares of Coterra Energy by 32.4% during the fourth quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock worth $46,000 after acquiring an additional 438 shares during the last quarter. SouthState Corp increased its holdings in Coterra Energy by 75.4% in the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after buying an additional 454 shares during the last quarter. Financial Advisors Network Inc. increased its holdings in Coterra Energy by 3.6% in the fourth quarter. Financial Advisors Network Inc. now owns 14,575 shares of the company’s stock valued at $372,000 after buying an additional 501 shares during the last quarter. Finally, Trust Co. of Vermont increased its holdings in Coterra Energy by 1.9% in the third quarter. Trust Co. of Vermont now owns 26,314 shares of the company’s stock valued at $712,000 after buying an additional 503 shares during 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.