Coterra Energy (NYSE:CTRA) Given New $35.00 Price Target at Piper Sandler

Coterra Energy (NYSE:CTRA) had its target price upped by Piper Sandler from $32.00 to $35.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also weighed in on the company. Wolfe Research assumed coverage on Coterra Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 target price on the stock. Morgan Stanley dropped their price target on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Truist Financial lowered their price target on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Monday, September 30th. JPMorgan Chase & Co. reduced their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Finally, Scotiabank lowered their price objective on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and an average target price of $32.24.

Coterra Energy Stock Performance

NYSE CTRA traded up $0.10 on Thursday, reaching $25.53. The stock had a trading volume of 4,132,386 shares, compared to its average volume of 6,236,401. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The firm has a fifty day moving average of $23.86 and a two-hundred day moving average of $25.50. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $28.90. The company has a market cap of $18.81 billion, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last announced 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). 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%. Coterra Energy’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share. On average, equities research analysts anticipate that Coterra Energy will post 1.53 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s payout ratio is 50.60%.

Institutional Investors Weigh In On Coterra Energy

Several hedge funds have recently added to or reduced their stakes in CTRA. Charles Schwab Investment Management Inc. lifted its stake in Coterra Energy by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after buying an additional 305,626 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Coterra Energy by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after purchasing an additional 195,966 shares during the last quarter. King Luther Capital Management Corp raised its stake in Coterra Energy by 4.4% during the 2nd quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock worth $180,921,000 after acquiring an additional 285,774 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its stake in Coterra Energy by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after purchasing an additional 51,249 shares during the period. Finally, Holocene Advisors LP increased its stake in shares of Coterra Energy by 187.2% during the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock worth $108,572,000 after acquiring an additional 2,954,675 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

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.