Coterra Energy (NYSE:CTRA) Given New $37.00 Price Target at Mizuho

Coterra Energy (NYSE:CTRA) had its price target boosted by Mizuho from $36.00 to $37.00 in a research note published on Friday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also weighed in on CTRA. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Scotiabank dropped their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company reduced their price objective on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Wolfe Research initiated coverage on Coterra Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $35.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their price target on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.24.

Coterra Energy Trading Down 5.1 %

Shares of NYSE:CTRA traded down $1.21 during trading on Friday, reaching $22.71. 12,178,921 shares of the company were exchanged, compared to its average volume of 6,230,813. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38. The firm has a market capitalization of $16.79 billion, a PE ratio of 13.68, a P/E/G ratio of 1.49 and a beta of 0.22. The business’s fifty day simple moving average is $23.79 and its 200-day simple moving average is $25.70. Coterra Energy has a 12-month low of $22.30 and a 12-month high of $28.90.

Coterra Energy (NYSE:CTRA) last issued its 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). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm earned $0.38 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, research analysts anticipate that Coterra Energy will post 1.62 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. Stockholders of record on Thursday, November 14th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s dividend payout ratio is presently 50.60%.

Institutional Trading of Coterra Energy

Large investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its holdings in Coterra Energy by 7.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 35,751 shares of the company’s stock worth $997,000 after purchasing an additional 2,403 shares during the period. SeaCrest Wealth Management LLC raised its position in Coterra Energy by 6.9% during the first quarter. SeaCrest Wealth Management LLC now owns 8,506 shares of the company’s stock worth $237,000 after acquiring an additional 549 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Coterra Energy by 0.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,011,692 shares of the company’s stock worth $56,086,000 after purchasing an additional 10,001 shares during the last quarter. Norden Group LLC purchased a new position in Coterra Energy in the 1st quarter valued at about $2,827,000. Finally, Kovack Advisors Inc. acquired a new stake in Coterra Energy in the 1st quarter worth about $237,000. 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.