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

Coterra Energy (NYSE:CTRA) had its target price hoisted by Truist Financial from $33.00 to $37.00 in a research note issued to investors on Monday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on the company. Susquehanna raised their target price on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Scotiabank cut their price objective on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Morgan Stanley increased their target price on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Barclays boosted their price target on shares of Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, Citigroup increased their price objective on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $32.76.

Coterra Energy Trading Up 0.8 %

Shares of NYSE:CTRA opened at $29.10 on Monday. The company has a market capitalization of $21.44 billion, a PE ratio of 17.53, a PEG ratio of 1.64 and a beta of 0.27. Coterra Energy has a 12-month low of $22.30 and a 12-month high of $29.19. The business has a 50 day moving average of $25.84 and a two-hundred day moving average of $24.98. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results 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). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the company posted $0.47 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. As a group, analysts forecast that Coterra Energy will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

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

Insiders Place Their Bets

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction dated 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 directly owns 77,075 shares of the company’s stock, valued at $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were 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 directly owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTRA. HB Wealth Management LLC increased its position in shares of Coterra Energy by 12.5% during the 4th quarter. HB Wealth Management LLC now owns 9,583 shares of the company’s stock worth $245,000 after purchasing an additional 1,061 shares during the last quarter. Arkadios Wealth Advisors increased its position in shares of Coterra Energy by 3.8% during the fourth quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock valued at $288,000 after acquiring an additional 413 shares during the last quarter. Merit Financial Group LLC purchased a new stake in shares of Coterra Energy in the 4th quarter valued at approximately $257,000. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Coterra Energy by 9.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 61,241 shares of the company’s stock worth $1,564,000 after acquiring an additional 5,273 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. boosted its position in shares of Coterra Energy by 10.3% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 24,136 shares of the company’s stock worth $616,000 after purchasing an additional 2,256 shares during the period. 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.