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

Coterra Energy (NYSE:CTRA) had its price objective increased by Piper Sandler from $35.00 to $37.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also recently issued reports on the company. Stephens reiterated an overweight rating and issued a $39.00 price objective on shares of Coterra Energy in a research note on Tuesday, January 23rd. UBS Group lifted their price objective on Coterra Energy from $31.00 to $32.00 and gave the company a buy rating in a research note on Friday, March 1st. Susquehanna upgraded Coterra Energy from a neutral rating to a positive rating and decreased their price objective for the company from $31.00 to $30.00 in a research note on Friday, January 26th. JPMorgan Chase & Co. lifted their price objective on Coterra Energy from $29.00 to $30.00 and gave the company an overweight rating in a research note on Thursday, April 4th. Finally, Bank of America upgraded Coterra Energy from a neutral rating to a buy rating and set a $31.00 price objective for the company in a research note on Friday, January 5th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $32.47.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $27.95 on Friday. Coterra Energy has a 52 week low of $22.91 and a 52 week high of $29.89. The business’s fifty day simple moving average is $26.71 and its 200-day simple moving average is $26.39. The firm has a market cap of $21.01 billion, a PE ratio of 13.06 and a beta of 0.21. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12.

Coterra Energy (NYSE:CTRA) last announced its 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 net margin of 27.48% and a return on equity of 12.97%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Equities analysts forecast that Coterra Energy will post 1.93 earnings per share for the current year.

Coterra Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.21 per share. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.84 annualized dividend and a yield of 3.01%. Coterra Energy’s payout ratio is 39.25%.

Insiders Place Their Bets

In other news, CAO Todd M. Roemer sold 55,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Todd M. Roemer sold 55,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the transaction, the vice president now directly owns 93,988 shares in the company, valued at approximately $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Coterra Energy

A number of institutional investors have recently modified their holdings of the business. PFG Investments LLC purchased a new stake in shares of Coterra Energy in the first quarter valued at approximately $339,000. Raymond James & Associates boosted its position in Coterra Energy by 0.8% during the first quarter. Raymond James & Associates now owns 1,130,915 shares of the company’s stock worth $31,530,000 after purchasing an additional 8,469 shares in the last quarter. Leeward Investments LLC MA boosted its position in Coterra Energy by 4.0% during the first quarter. Leeward Investments LLC MA now owns 484,978 shares of the company’s stock worth $13,521,000 after purchasing an additional 18,645 shares in the last quarter. FCG Investment Co boosted its position in Coterra Energy by 115.0% during the first quarter. FCG Investment Co now owns 35,558 shares of the company’s stock worth $991,000 after purchasing an additional 19,021 shares in the last quarter. Finally, Fruth Investment Management boosted its position in Coterra Energy by 2.9% during the first quarter. Fruth Investment Management now owns 31,814 shares of the company’s stock worth $886,000 after purchasing an additional 900 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

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.