Coterra Energy (NYSE:CTRA) Upgraded at Roth Mkm

Roth Mkm upgraded shares of Coterra Energy (NYSE:CTRA) from a neutral rating to a buy rating in a report issued on Tuesday morning, MarketBeat Ratings reports. They currently have $29.00 price objective on the stock, up from their prior price objective of $25.00.

A number of other research firms have also recently issued reports on CTRA. Piper Sandler decreased their price target on shares of Coterra Energy from $39.00 to $31.00 and set an overweight rating for the company in a report on Thursday, August 15th. Wolfe Research assumed coverage on Coterra Energy in a research note on Thursday, July 18th. They issued an outperform rating and a $35.00 target price for the company. Susquehanna boosted their price target on Coterra Energy from $32.00 to $33.00 and gave the company a positive rating in a research note on Tuesday, May 7th. Bank of America restated a buy rating and issued a $34.00 price objective on shares of Coterra Energy in a research note on Friday, June 14th. Finally, Mizuho upped their target price on Coterra Energy from $37.00 to $41.00 and gave the company a buy rating in a research report on Monday, May 13th. Two research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $33.29.

Coterra Energy Stock Up 1.6 %

Shares of CTRA stock opened at $24.43 on Tuesday. The stock’s fifty day moving average price is $25.56 and its 200 day moving average price is $26.62. Coterra Energy has a 1-year low of $23.18 and a 1-year high of $29.89. The company has a market cap of $18.18 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 1.49 and a beta of 0.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.46.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a return on equity of 10.49% and a net margin of 23.18%. Coterra Energy’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS. On average, research analysts expect that Coterra Energy will post 2.02 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.44%. Coterra Energy’s dividend payout ratio (DPR) is currently 48.55%.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in Coterra Energy in the fourth quarter valued at approximately $1,396,000. Federated Hermes Inc. increased its holdings in Coterra Energy by 54.9% in the 4th quarter. Federated Hermes Inc. now owns 22,854 shares of the company’s stock worth $583,000 after acquiring an additional 8,099 shares in the last quarter. Headlands Technologies LLC raised its position in Coterra Energy by 397.7% during the fourth quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock worth $44,000 after acquiring an additional 1,392 shares during the period. Russell Investments Group Ltd. lifted its holdings in Coterra Energy by 1.2% during the fourth quarter. Russell Investments Group Ltd. now owns 778,363 shares of the company’s stock valued at $19,865,000 after purchasing an additional 9,487 shares in the last quarter. Finally, Certuity LLC grew its position in shares of Coterra Energy by 44.3% in the fourth quarter. Certuity LLC now owns 10,782 shares of the company’s stock valued at $275,000 after purchasing an additional 3,308 shares during the period. 87.92% of the stock is currently owned by institutional investors and hedge funds.

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.