Coterra Energy (NYSE:CTRA) Given New $29.00 Price Target at Stephens

Coterra Energy (NYSE:CTRA) had its price objective hoisted by Stephens from $28.00 to $29.00 in a report released on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

CTRA has been the subject of several other research reports. Scotiabank lowered their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Truist Financial dropped their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Morgan Stanley cut their price objective on shares of 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. Piper Sandler decreased their target price on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Finally, Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.24.

Coterra Energy Trading Down 5.1 %

Shares of CTRA traded down $1.21 during trading hours on Friday, hitting $22.71. 12,178,921 shares of the stock 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 P/E ratio of 13.68, a price-to-earnings-growth ratio of 1.49 and a beta of 0.22. The business has a 50-day moving average of $23.79 and a 200-day moving average of $25.70. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $28.90.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the company earned $0.38 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, research analysts expect that Coterra Energy will post 1.62 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors 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 (DPR) is currently 50.60%.

Institutional Trading of Coterra Energy

A number of large investors have recently bought and sold shares of CTRA. Fortitude Family Office LLC grew its stake in shares of Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after acquiring an additional 567 shares during the period. Larson Financial Group LLC increased its stake in shares of Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after purchasing an additional 535 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Coterra Energy in the first quarter valued at approximately $44,000. EverSource Wealth Advisors LLC raised its position in shares of Coterra Energy by 31.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after purchasing an additional 557 shares during the period. Finally, Values First Advisors Inc. purchased a new stake in shares of Coterra Energy during the 3rd quarter valued at approximately $57,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

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.