Brokerages Set Coterra Energy Inc. (NYSE:CTRA) PT at $32.86

Coterra Energy Inc. (NYSE:CTRA) has been given a consensus rating of “Moderate Buy” by the twenty-four research firms that are presently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $32.8636.

A number of brokerages recently issued reports on CTRA. Barclays decreased their target price on shares of Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. The Goldman Sachs Group reduced their price target on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, October 15th. Morgan Stanley lowered their price objective on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Raymond James Financial boosted their target price on Coterra Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, November 24th. Finally, Stephens decreased their price target on Coterra Energy from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, October 21st.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Advisors Asset Management Inc. lifted its position in shares of Coterra Energy by 0.7% in the 3rd 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. raised its stake in Coterra Energy by 4.2% during the third 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 last quarter. Pinnacle Associates Ltd. lifted its holdings in Coterra Energy by 2.8% in the third 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 period. Profund Advisors LLC boosted its position in Coterra Energy by 1.4% during the third quarter. Profund Advisors LLC now owns 30,969 shares of the company’s stock valued at $732,000 after acquiring an additional 418 shares during the last quarter. Finally, AAFMAA Wealth Management & Trust LLC grew its holdings in Coterra Energy by 1.0% during the 3rd quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company’s stock worth $1,017,000 after acquiring an additional 429 shares during the period. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Down 2.3%

CTRA opened at $24.83 on Wednesday. The stock’s 50 day moving average price is $26.10 and its 200 day moving average price is $24.75. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.98. The stock has a market cap of $18.90 billion, a P/E ratio of 11.44, a P/E/G ratio of 0.38 and a beta of 0.36. Coterra Energy has a 12 month low of $22.33 and a 12 month high of $29.95.

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

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.88 annualized dividend and a yield of 3.5%. Coterra Energy’s dividend payout ratio (DPR) is currently 40.55%.

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.