Coterra Energy (NYSE:CTRA) Given New $35.00 Price Target at UBS Group

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

Several other equities research analysts have also recently weighed in on CTRA. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. reduced their price target on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Wolfe Research began coverage on Coterra Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price target on the stock. Truist Financial upped their price target on Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Susquehanna upped their price target on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.41.

Coterra Energy Price Performance

Shares of Coterra Energy stock opened at $25.58 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The company has a market cap of $18.84 billion, a PE ratio of 15.41, a P/E/G ratio of 1.67 and a beta of 0.22. The business has a 50 day moving average of $23.95 and a 200 day moving average of $25.46. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $28.90.

Coterra Energy (NYSE:CTRA) last announced its 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). The business 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%. Coterra Energy’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 EPS. As a group, equities research analysts forecast that Coterra Energy will post 1.53 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.28%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Institutional Investors Weigh In On Coterra Energy

Institutional investors have recently modified their holdings of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Coterra Energy during the first quarter valued at $656,000. Quadrature Capital Ltd lifted its holdings in Coterra Energy by 112.2% in the first quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock valued at $2,018,000 after acquiring an additional 38,278 shares during the period. CreativeOne Wealth LLC lifted its holdings in Coterra Energy by 130.3% in the first quarter. CreativeOne Wealth LLC now owns 56,860 shares of the company’s stock valued at $1,586,000 after acquiring an additional 32,173 shares during the period. Raymond James & Associates lifted its holdings in Coterra Energy by 5.0% in the second quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after acquiring an additional 56,748 shares during the period. Finally, Disciplined Growth Investors Inc. MN lifted its holdings in Coterra Energy by 1.0% in 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 acquiring 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.