Coterra Energy (NYSE:CTRA) Price Target Raised to $35.00

Coterra Energy (NYSE:CTRA) had its target price hoisted by UBS Group from $31.00 to $35.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently weighed in on CTRA. Scotiabank reduced 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 report on Thursday, October 10th. Wolfe Research initiated coverage on shares of Coterra Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price target on the stock. Wells Fargo & Company cut their price objective on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Finally, Stephens boosted their price target on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and an average target price of $32.41.

Coterra Energy Stock Performance

CTRA stock traded up $0.15 during midday trading on Friday, hitting $25.58. 7,021,811 shares of the stock traded hands, compared to its average volume of 6,249,986. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $28.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The stock’s fifty day simple moving average is $23.95 and its 200-day simple moving average is $25.48. The firm has a market cap of $18.84 billion, a P/E 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 results 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). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company posted $0.47 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts expect that Coterra Energy will post 1.53 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.21 per share. 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 is presently 50.60%.

Institutional Investors Weigh In On Coterra Energy

A number of hedge funds have recently bought and sold shares of the stock. Fortitude Family Office LLC grew its holdings in 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 in the last quarter. Larson Financial Group LLC raised its stake in Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after buying an additional 535 shares in the last quarter. Values First Advisors Inc. purchased a new stake in Coterra Energy during the 3rd quarter worth about $57,000. Tobam purchased a new position in shares of Coterra Energy in the 3rd quarter valued at about $63,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Coterra Energy by 31.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after acquiring an additional 557 shares in the last quarter. Institutional investors and hedge funds 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.