Coterra Energy (NYSE:CTRA) Given New $35.00 Price Target at Wells Fargo & Company

Coterra Energy (NYSE:CTRA) had its target price upped by Wells Fargo & Company from $32.00 to $35.00 in a report issued on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also recently issued reports about the stock. Mizuho raised their price target on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Barclays increased 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. Susquehanna upped their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday. Finally, Truist Financial lifted their price objective on Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday. Two 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 stock. According to data from MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and an average price target of $32.41.

Coterra Energy Stock Up 0.6 %

NYSE CTRA traded up $0.15 on Friday, reaching $25.58. 7,021,811 shares of the stock traded hands, compared to its average volume of 6,249,986. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $28.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company has a fifty day moving average price of $23.95 and a 200-day moving average price of $25.48. The company has a market cap of $18.84 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 1.67 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period last year, the company earned $0.47 earnings per share. As a group, research analysts forecast that Coterra Energy will post 1.53 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be given a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.28%. Coterra Energy’s dividend payout ratio (DPR) is 50.60%.

Hedge Funds Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently made changes to their positions in CTRA. Wellington Management Group LLP raised its stake in Coterra Energy by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after purchasing an additional 15,736,247 shares during the last quarter. Holocene Advisors LP lifted its stake in shares of Coterra Energy by 187.2% in the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock worth $108,572,000 after buying an additional 2,954,675 shares in the last quarter. Bank of Montreal Can boosted its position in Coterra Energy by 160.1% during the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock worth $80,154,000 after acquiring an additional 1,784,192 shares during the last quarter. Weiss Asset Management LP purchased a new stake in Coterra Energy during the 3rd quarter valued at about $28,380,000. Finally, Marshall Wace LLP raised its holdings in Coterra Energy by 5,325.5% in the 2nd quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock valued at $30,632,000 after acquiring an additional 1,127,399 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.