Coterra Energy (NYSE:CTRA) Price Target Raised to $33.00

Coterra Energy (NYSE:CTRA) had its price target lifted by Wolfe Research from $32.00 to $33.00 in a research report released on Monday morning,MarketScreener reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages have also recently weighed in on CTRA. Mizuho raised their price objective on shares of Coterra Energy from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Raymond James Financial raised their target price on shares of Coterra Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, November 24th. William Blair initiated coverage on Coterra Energy in a research note on Wednesday, November 26th. They set an “outperform” rating and a $36.00 price target for the company. Susquehanna raised their target price on shares of Coterra Energy from $31.00 to $32.00 and gave the company a “positive” rating in a research note on Monday. Finally, Scotiabank set a $31.00 price target on Coterra Energy in a report on Friday, January 16th. Sixteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.76.

Coterra Energy Stock Up 1.1%

Coterra Energy stock opened at $27.82 on Monday. The company has a market capitalization of $21.18 billion, a P/E ratio of 12.82, a PEG ratio of 0.62 and a beta of 0.36. The stock has a 50-day simple moving average of $26.20 and a 200-day simple moving average of $24.86. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02. Coterra Energy has a fifty-two week low of $22.33 and a fifty-two week high of $29.82.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Monday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.02). The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The company’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 earnings per share. Equities research analysts expect that Coterra Energy will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.2%. The ex-dividend date was Thursday, November 13th. Coterra Energy’s dividend payout ratio (DPR) is currently 40.55%.

Institutional Investors Weigh In On Coterra Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. raised its position in shares of Coterra Energy by 0.7% during the third quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock worth $1,438,000 after purchasing an additional 398 shares during the period. KLCM Advisors Inc. boosted its holdings in shares of Coterra Energy by 4.2% during the 3rd quarter. KLCM Advisors Inc. now owns 9,855 shares of the company’s stock worth $233,000 after buying an additional 400 shares during the period. Pinnacle Associates Ltd. grew its holdings in Coterra Energy by 2.8% in the 3rd quarter. Pinnacle Associates Ltd. now owns 15,336 shares of the company’s stock valued at $363,000 after buying an additional 415 shares during the last quarter. Profund Advisors LLC increased its holdings in shares of Coterra Energy by 1.4% during the 3rd quarter. Profund Advisors LLC now owns 30,969 shares of the company’s stock worth $732,000 after purchasing an additional 418 shares during the period. Finally, AAFMAA Wealth Management & Trust LLC increased its position in shares of Coterra Energy by 1.0% during the third quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company’s stock valued at $1,017,000 after purchasing an additional 429 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.