Citigroup Forecasts Strong Price Appreciation for Coterra Energy (NYSE:CTRA) Stock

Coterra Energy (NYSE:CTRA) had its price objective raised by Citigroup from $28.00 to $32.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also weighed in on CTRA. Morgan Stanley boosted their target price on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Wells Fargo & Company increased their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Stephens increased their price target on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Mizuho raised their price objective on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.47.

Coterra Energy Stock Performance

Shares of CTRA opened at $26.72 on Tuesday. The company has a market cap of $19.68 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.73 and a beta of 0.22. The firm has a 50-day moving average of $24.71 and a 200-day moving average of $25.40. Coterra Energy has a one year low of $22.30 and a one year high of $28.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Coterra Energy (NYSE:CTRA) last posted its quarterly 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 return on equity of 9.38% and a net margin of 21.91%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.47 EPS. As a group, 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 declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s payout ratio is currently 50.60%.

Insider Activity at Coterra Energy

In related news, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the sale, the senior vice president now owns 72,409 shares in the company, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Coterra Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp raised its holdings in shares of Coterra Energy by 0.6% during the 2nd quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock worth $1,897,000 after buying an additional 399 shares in the last quarter. TCW Group Inc. grew its position in Coterra Energy by 4.0% in the second quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock valued at $279,000 after acquiring an additional 404 shares during the last quarter. Cornercap Investment Counsel Inc. raised its stake in Coterra Energy by 0.7% during the second quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock worth $1,768,000 after acquiring an additional 436 shares in the last quarter. Bruce G. Allen Investments LLC lifted its holdings in shares of Coterra Energy by 17.4% in the third quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock worth $73,000 after acquiring an additional 450 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of Coterra Energy by 1.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock valued at $804,000 after purchasing an additional 474 shares in the last quarter. 87.92% of the stock is currently owned by 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.