Coterra Energy (NYSE:CTRA) Price Target Raised to $35.00

Coterra Energy (NYSE:CTRA) had its price objective upped by Wells Fargo & Company from $32.00 to $35.00 in a research note published on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities research analysts have also issued reports on the company. 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 research report on Thursday. Susquehanna upped their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday. Barclays lifted their target price on shares of Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Wolfe Research began coverage on shares of Coterra Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.41.

Coterra Energy Stock Performance

CTRA opened at $25.58 on Friday. The business has a 50 day moving average price of $23.95 and a two-hundred day moving average price of $25.46. 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 company has a market capitalization of $18.84 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $28.90.

Coterra Energy (NYSE:CTRA) last announced its earnings results 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). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the business earned $0.47 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. Research analysts predict that Coterra Energy will post 1.53 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.28%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Hedge Funds Weigh In On Coterra Energy

A number of institutional investors have recently modified their holdings of the company. Fortitude Family Office LLC grew its holdings in Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after buying an additional 567 shares during the last quarter. Larson Financial Group LLC increased its position in Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after acquiring an additional 535 shares during the period. Values First Advisors Inc. acquired a new position in Coterra Energy during the 3rd quarter valued at $57,000. Tobam bought a new stake in Coterra Energy in the 3rd quarter valued at $63,000. Finally, EverSource Wealth Advisors LLC grew its position in Coterra Energy by 31.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after purchasing an additional 557 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

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.