Coterra Energy (NYSE:CTRA) Price Target Raised to $33.00

Coterra Energy (NYSE:CTRA) had its price target lifted by Susquehanna from $30.00 to $33.00 in a report published on Thursday,Benzinga reports. Susquehanna currently has a positive rating on the stock.

Other research analysts also recently issued research reports about the stock. Stephens upped their price objective on shares of Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Mizuho lifted their price target on Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Morgan Stanley lowered their price target on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. UBS Group cut their price objective on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Scotiabank decreased their target price on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.41.

Coterra Energy Stock Up 0.6 %

Shares of CTRA opened at $25.58 on Thursday. The company has a market capitalization 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 52 week low of $22.30 and a 52 week high of $28.90. The stock’s 50-day moving average price is $23.95 and its 200-day moving average price is $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.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the company posted $0.47 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, sell-side analysts predict that Coterra Energy will post 1.53 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently announced 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 3.28%. 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

A number of large investors have recently made changes to their positions in CTRA. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Coterra Energy during the first quarter worth $656,000. Quadrature Capital Ltd boosted its position in shares of Coterra Energy by 112.2% during the 1st quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock valued at $2,018,000 after acquiring an additional 38,278 shares during the last quarter. CreativeOne Wealth LLC boosted its position in shares of Coterra Energy by 130.3% during the 1st quarter. CreativeOne Wealth LLC now owns 56,860 shares of the company’s stock valued at $1,586,000 after acquiring an additional 32,173 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Coterra Energy by 5.0% in the second quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after purchasing an additional 56,748 shares during the period. Finally, Disciplined Growth Investors Inc. MN increased its position in Coterra Energy by 1.0% during the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock worth $135,055,000 after purchasing an additional 51,249 shares during the last quarter. 87.92% of the stock is currently 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.