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

Coterra Energy (NYSE:CTRA) had its price objective upped by Susquehanna from $30.00 to $33.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a positive rating on the stock.

Several other research firms have also recently weighed in on CTRA. JPMorgan Chase & Co. dropped their price target on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Mizuho upped their price objective on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Morgan Stanley decreased their price objective on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, Truist Financial decreased their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average target price of $32.41.

Coterra Energy Stock Performance

Coterra Energy stock opened at $25.58 on Thursday. The firm has a 50 day simple moving average of $23.95 and a 200-day simple moving average of $25.46. Coterra Energy has a 1-year low of $22.30 and a 1-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. The stock has a market cap 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 (NYSE:CTRA) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the company earned $0.47 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts expect that Coterra Energy will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a $0.21 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.28%. Coterra Energy’s payout ratio is 50.60%.

Institutional Investors Weigh In On Coterra Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of Coterra Energy by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after purchasing an additional 15,736,247 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 purchasing an additional 305,626 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Coterra Energy by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock valued at $453,628,000 after purchasing an additional 128,397 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Coterra Energy by 1.2% in the 3rd quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock valued at $406,266,000 after purchasing an additional 195,966 shares in the last quarter. Finally, King Luther Capital Management Corp grew its position in shares of Coterra Energy by 4.4% in the 2nd quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock valued at $180,921,000 after buying an additional 285,774 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

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.