Morgan Stanley Increases Coterra Energy (NYSE:CTRA) Price Target to $29.00

Coterra Energy (NYSE:CTRA) had its price objective raised by Morgan Stanley from $27.00 to $29.00 in a research note released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Barclays boosted their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $25.00 to $29.00 in a research note on Tuesday, August 27th. Finally, Stephens boosted their price objective on shares of Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and a consensus target price of $32.41.

Coterra Energy Stock Performance

Shares of NYSE CTRA opened at $25.58 on Thursday. The company has a market cap of $18.84 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22. 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 current ratio of 1.61 and a quick ratio of 1.56. The company has a 50-day simple moving average of $23.95 and a 200-day simple moving average of $25.46.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS 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 firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the firm earned $0.47 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts anticipate that Coterra Energy will post 1.53 earnings per share for the current year.

Coterra Energy Announces Dividend

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. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.28%. Coterra Energy’s dividend payout ratio is presently 50.60%.

Institutional Trading of Coterra Energy

Institutional investors have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC raised its holdings in shares of Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares during the period. Larson Financial Group LLC raised its holdings in shares of Coterra Energy by 98.0% during 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 during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Coterra Energy by 31.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after purchasing an additional 557 shares during the period. Values First Advisors Inc. acquired a new stake in shares of Coterra Energy during the third quarter worth $57,000. Finally, Family Firm Inc. acquired a new stake in shares of Coterra Energy during the second quarter worth $68,000. 87.92% of the stock is owned by institutional investors and hedge funds.

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.