Mizuho Raises Coterra Energy (NYSE:CTRA) Price Target to $37.00

Coterra Energy (NYSE:CTRA) had its price objective raised by Mizuho from $34.00 to $37.00 in a research note published on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also commented on the company. Raymond James raised their price target on Coterra Energy from $32.00 to $34.00 and gave the stock an outperform rating in a report on Wednesday, January 24th. Truist Financial cut their price target on Coterra Energy from $30.00 to $27.00 and set a hold rating for the company in a report on Friday, April 5th. JPMorgan Chase & Co. raised their price target on Coterra Energy from $29.00 to $30.00 and gave the stock an overweight rating in a report on Thursday, April 4th. Piper Sandler lifted their price objective on Coterra Energy from $35.00 to $37.00 and gave the company an overweight rating in a research note on Friday, April 19th. Finally, Susquehanna lifted their price objective on Coterra Energy from $30.00 to $32.00 and gave the company a positive rating in a research note on Monday, April 22nd. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $32.67.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $28.19 on Friday. The stock has a fifty day simple moving average of $27.30 and a two-hundred day simple moving average of $26.36. Coterra Energy has a 1-year low of $22.91 and a 1-year high of $29.89. The firm has a market cap of $21.19 billion, a price-to-earnings ratio of 16.29 and a beta of 0.22. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a return on equity of 10.80% and a net margin of 23.34%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. Analysts anticipate that Coterra Energy will post 1.82 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.84 dividend on an annualized basis and a yield of 2.98%. Coterra Energy’s payout ratio is 48.55%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the sale, the chief accounting officer now owns 176,758 shares in the company, valued at $4,783,071.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the transaction, the vice president now owns 93,988 shares in the company, valued at $2,449,327.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the transaction, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CTRA. Commonwealth Equity Services LLC increased its holdings in Coterra Energy by 18.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 218,119 shares of the company’s stock valued at $5,900,000 after purchasing an additional 34,479 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in Coterra Energy by 688.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 266,410 shares of the company’s stock valued at $7,206,000 after purchasing an additional 232,626 shares during the period. Raymond James & Associates increased its holdings in Coterra Energy by 1.5% during the 3rd quarter. Raymond James & Associates now owns 1,096,984 shares of the company’s stock valued at $29,673,000 after purchasing an additional 16,710 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Coterra Energy by 29.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 178,109 shares of the company’s stock valued at $4,818,000 after purchasing an additional 40,446 shares during the period. Finally, Independent Advisor Alliance increased its holdings in Coterra Energy by 87.1% during the 3rd quarter. Independent Advisor Alliance now owns 54,206 shares of the company’s stock valued at $1,466,000 after purchasing an additional 25,228 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.