Citigroup Issues Positive Forecast for Coterra Energy (NYSE:CTRA) Stock Price

Coterra Energy (NYSE:CTRA) had its target price raised by Citigroup from $28.00 to $32.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently weighed in on CTRA. Mizuho lifted their target price on Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $25.00 to $29.00 in a research report on Tuesday, August 27th. Susquehanna boosted their price objective on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Morgan Stanley boosted their price objective on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company boosted their price objective on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $32.47.

Coterra Energy Stock Performance

NYSE CTRA opened at $26.79 on Tuesday. The company has a market cap of $19.73 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.80 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The stock has a 50-day moving average of $24.44 and a two-hundred day moving average of $25.40. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $28.90.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate 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%. The business’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. As a group, analysts anticipate that Coterra Energy will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The company 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. This represents a $0.84 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s dividend payout ratio is currently 50.60%.

Insider Buying and Selling at Coterra Energy

In other news, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 72,409 shares in the company, valued at $1,937,664.84. This represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coterra Energy

Several large investors have recently modified their holdings of CTRA. Synovus Financial Corp grew its holdings in Coterra Energy by 16.0% during the third quarter. Synovus Financial Corp now owns 15,837 shares of the company’s stock worth $379,000 after acquiring an additional 2,184 shares during the period. Tidal Investments LLC grew its holdings in Coterra Energy by 19.9% during the third quarter. Tidal Investments LLC now owns 143,947 shares of the company’s stock worth $3,448,000 after acquiring an additional 23,844 shares during the period. Blankinship & Foster LLC acquired a new position in Coterra Energy during the third quarter worth $1,420,000. Wilmington Savings Fund Society FSB acquired a new position in Coterra Energy during the third quarter worth $621,000. Finally, World Investment Advisors LLC acquired a new position in Coterra Energy during the third quarter worth $1,749,000. Hedge funds and other institutional investors 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.