Coterra Energy (NYSE:CTRA) Price Target Raised to $35.00

Coterra Energy (NYSE:CTRA) had its price objective upped by Wells Fargo & Company from $32.00 to $35.00 in a research report released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

CTRA has been the topic of several other research reports. 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 report on Thursday, November 14th. Stephens upped their price target on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. UBS Group boosted their price objective on Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Friday. Finally, Mizuho upped their target price on Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.41.

Coterra Energy Stock Performance

CTRA opened at $26.12 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 stock’s 50 day moving average price is $23.95 and its two-hundred day moving average price is $25.45. The firm has a market capitalization of $19.24 billion, a P/E ratio of 15.77, 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.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the company posted $0.47 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. On average, equities analysts forecast that Coterra Energy will post 1.53 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.22%. Coterra Energy’s dividend payout ratio is currently 50.60%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Fortitude Family Office LLC grew 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 last quarter. Larson Financial Group LLC grew 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 last quarter. EverSource Wealth Advisors LLC grew 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 last quarter. Values First Advisors Inc. bought a new stake in shares of Coterra Energy during the third quarter worth $57,000. Finally, Family Firm Inc. bought a new stake in shares of Coterra Energy during the second quarter worth $68,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

About Coterra Energy

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.