Coterra Energy (NYSE:CTRA) Price Target Raised to $29.00

Coterra Energy (NYSE:CTRA) had its price target boosted by Morgan Stanley from $26.00 to $29.00 in a research note published on Wednesday, Benzinga reports. The firm currently has an equal weight rating on the stock.

CTRA has been the subject of several other research reports. Stifel Nicolaus cut their price target on Coterra Energy from $33.00 to $31.00 and set a buy rating for the company in a report on Friday, March 22nd. Stephens reissued an overweight rating and issued a $39.00 target price on shares of Coterra Energy in a report on Tuesday, January 23rd. Raymond James lifted their price target on shares of Coterra Energy from $32.00 to $34.00 and gave the company an outperform rating in a report on Wednesday, January 24th. Piper Sandler increased their price objective on shares of Coterra Energy from $33.00 to $35.00 and gave the stock an overweight rating in a research note on Thursday, March 7th. Finally, UBS Group lifted their target price on shares of Coterra Energy from $31.00 to $32.00 and gave the company a buy rating in a research note on Friday, March 1st. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Coterra Energy presently has an average rating of Moderate Buy and an average target price of $32.33.

Coterra Energy Trading Up 1.9 %

Coterra Energy stock opened at $27.75 on Wednesday. Coterra Energy has a 52-week low of $22.91 and a 52-week high of $29.89. The company has a market cap of $20.86 billion, a P/E ratio of 12.97 and a beta of 0.21. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12. The business has a 50-day simple moving average of $26.64 and a two-hundred day simple moving average of $26.37.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. Analysts predict that Coterra Energy will post 1.93 EPS for the current year.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.21 per share. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Wednesday, March 13th. Coterra Energy’s dividend payout ratio is currently 39.25%.

Insider Buying and Selling

In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the completion of the transaction, the vice president now owns 93,988 shares in the company, valued at $2,449,327.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the sale, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction on Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the transaction, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coterra Energy

Several institutional investors have recently made changes to their positions in the company. ICA Group Wealth Management LLC purchased a new stake in Coterra Energy in the 4th quarter worth about $25,000. SouthState Corp grew its stake in shares of Coterra Energy by 75.4% during the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after buying an additional 454 shares during the last quarter. Quarry LP raised its holdings in shares of Coterra Energy by 157.4% in the fourth quarter. Quarry LP now owns 1,063 shares of the company’s stock worth $27,000 after buying an additional 650 shares during the period. Tennessee Valley Asset Management Partners bought a new stake in shares of Coterra Energy during the 4th quarter worth approximately $33,000. Finally, VisionPoint Advisory Group LLC boosted its holdings in Coterra Energy by 133.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock valued at $35,000 after acquiring an additional 740 shares during the period. Institutional investors own 87.92% of the company’s stock.

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.