Coterra Energy (NYSE:CTRA) Price Target Raised to $36.00

Coterra Energy (NYSE:CTRA) had its price objective increased by Mizuho from $33.00 to $36.00 in a report released on Thursday,MarketScreener reports. They currently have an outperform rating on the stock.

Several other research firms have also recently issued reports on CTRA. BMO Capital Markets lowered their price objective on Coterra Energy from $33.00 to $32.00 and set a “market perform” rating on the stock in a research report on Monday, December 15th. JPMorgan Chase & Co. dropped their price target on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, January 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Coterra Energy in a research report on Monday, December 29th. Stephens cut their target price on shares of Coterra Energy from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, October 21st. Finally, William Blair assumed coverage on shares of Coterra Energy in a research report on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 price target on the stock. Sixteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.62.

Coterra Energy Price Performance

CTRA opened at $25.73 on Thursday. The firm has a market cap of $19.59 billion, a PE ratio of 11.86, a P/E/G ratio of 0.45 and a beta of 0.36. The stock has a 50-day moving average price of $26.06 and a 200-day moving average price of $24.75. Coterra Energy has a 1 year low of $22.33 and a 1 year high of $29.95. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.98.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.83 billion. Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 earnings per share. Sell-side analysts predict that Coterra Energy will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.88 annualized dividend and a yield of 3.4%. Coterra Energy’s payout ratio is currently 40.55%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Coterra Energy by 4.0% in the third quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock valued at $2,341,151,000 after acquiring an additional 3,781,606 shares in the last quarter. State Street Corp raised its stake in Coterra Energy by 0.9% during the 2nd quarter. State Street Corp now owns 45,588,319 shares of the company’s stock valued at $1,157,032,000 after purchasing an additional 386,526 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Coterra Energy by 5.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock valued at $680,197,000 after purchasing an additional 1,495,553 shares during the period. Victory Capital Management Inc. lifted its holdings in Coterra Energy by 2.5% in the 3rd quarter. Victory Capital Management Inc. now owns 21,581,809 shares of the company’s stock worth $510,410,000 after purchasing an additional 534,132 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Coterra Energy by 4.8% in the 2nd quarter. Geode Capital Management LLC now owns 20,685,670 shares of the company’s stock worth $522,936,000 after purchasing an additional 953,824 shares during the period. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.