Coterra Energy (NYSE:CTRA) PT Raised to $32.00 at Susquehanna

Coterra Energy (NYSE:CTRA) had its price objective lifted by Susquehanna from $30.00 to $32.00 in a research report released on Monday morning, Benzinga reports. They currently have a positive rating on the stock.

A number of other equities research analysts also recently issued reports on CTRA. Scotiabank upped their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a sector outperform rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. upped their price objective on shares of Coterra Energy from $29.00 to $30.00 and gave the stock an overweight rating in a research report on Thursday, April 4th. Piper Sandler upped their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an overweight rating in a research report on Friday, April 19th. Mizuho reissued a buy rating and set a $34.00 target price on shares of Coterra Energy in a research report on Wednesday, April 3rd. Finally, Raymond James increased their target price on shares of Coterra Energy from $32.00 to $34.00 and gave the company an outperform rating in a research report on Wednesday, January 24th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Coterra Energy currently has a consensus rating of Moderate Buy and an average price target of $32.47.

Coterra Energy Stock Performance

NYSE CTRA opened at $28.45 on Monday. The firm’s fifty day moving average price is $27.02 and its two-hundred day moving average price is $26.44. The stock has a market cap of $21.39 billion, a PE ratio of 13.29 and a beta of 0.21. Coterra Energy has a fifty-two week low of $22.91 and a fifty-two week high of $29.89. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. On average, equities analysts expect that Coterra Energy will post 1.87 EPS for the current fiscal year.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 2.95%. Coterra Energy’s dividend payout ratio is currently 39.25%.

Insider Activity

In other news, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were 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 approximately $4,783,071.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were 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 approximately $4,783,071.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the sale, the vice president now owns 93,988 shares in the company, valued at approximately $2,449,327.28. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Coterra Energy

A number of large investors have recently added to or reduced their stakes in the business. SouthState Corp grew its holdings in Coterra Energy by 75.4% in the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after acquiring an additional 454 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new stake in Coterra Energy in the 4th quarter worth $33,000. VisionPoint Advisory Group LLC grew its holdings in Coterra Energy by 133.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after acquiring an additional 740 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new stake in Coterra Energy in the 4th quarter worth $33,000. Finally, Harbor Investment Advisory LLC grew its holdings in Coterra Energy by 869.3% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after acquiring an additional 1,443 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.