Coterra Energy (NYSE:CTRA) Given New $33.00 Price Target at Barclays

Coterra Energy (NYSE:CTRA) had its target price increased by Barclays from $31.00 to $33.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Wells Fargo & Company lowered their price target on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Scotiabank lowered their price target 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 began coverage on shares of Coterra Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price target for the company. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Morgan Stanley lowered their price target on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Two 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 company. Based on data from MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and an average price target of $32.41.

Coterra Energy Trading Up 0.6 %

Shares of CTRA opened at $25.58 on Thursday. The firm’s 50-day moving average price is $23.95 and its 200-day moving average price is $25.46. The firm has a market capitalization of $18.84 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.67 and a beta of 0.22. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $28.90.

Coterra Energy (NYSE:CTRA) last announced its 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). The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 EPS. Sell-side analysts anticipate that Coterra Energy will post 1.53 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued 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 payout ratio is 50.60%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Coterra Energy during the first quarter valued at approximately $656,000. Quadrature Capital Ltd raised its holdings in shares of Coterra Energy by 112.2% during the first quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock valued at $2,018,000 after purchasing an additional 38,278 shares during the last quarter. CreativeOne Wealth LLC raised its holdings in shares of Coterra Energy by 130.3% during the first quarter. CreativeOne Wealth LLC now owns 56,860 shares of the company’s stock valued at $1,586,000 after purchasing an additional 32,173 shares during the last quarter. Raymond James & Associates grew its position in Coterra Energy by 5.0% during the second quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after buying an additional 56,748 shares during the period. Finally, Disciplined Growth Investors Inc. MN grew its position in Coterra Energy by 1.0% during the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after buying an additional 51,249 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

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.