Coterra Energy (NYSE:CTRA) Stock Price Expected to Rise, Citigroup Analyst Says

Coterra Energy (NYSE:CTRA) had its price target hoisted by Citigroup from $28.00 to $32.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also commented on CTRA. Mizuho increased their price objective on Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Barclays increased their target price on Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Scotiabank reduced their target price 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. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $25.00 to $29.00 in a research report on Tuesday, August 27th. Finally, Susquehanna increased their target price on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.47.

Coterra Energy Stock Down 0.8 %

Coterra Energy stock opened at $26.79 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The firm has a market capitalization of $19.73 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 1.80 and a beta of 0.22. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $28.90. The stock’s fifty day moving average is $24.44 and its two-hundred day moving average is $25.40.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 EPS. Analysts predict that Coterra Energy will post 1.53 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.14%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s payout ratio is currently 50.60%.

Insider Buying and Selling at Coterra Energy

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

Hedge Funds Weigh In On Coterra Energy

A number of hedge funds have recently modified their holdings of the stock. Synovus Financial Corp grew its holdings in shares of Coterra Energy by 16.0% during the third quarter. Synovus Financial Corp now owns 15,837 shares of the company’s stock valued at $379,000 after buying an additional 2,184 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Coterra Energy by 19.9% during the third quarter. Tidal Investments LLC now owns 143,947 shares of the company’s stock valued at $3,448,000 after buying an additional 23,844 shares in the last quarter. Blankinship & Foster LLC purchased a new position in shares of Coterra Energy during the third quarter valued at $1,420,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Coterra Energy during the third quarter valued at $621,000. Finally, World Investment Advisors LLC purchased a new position in shares of Coterra Energy during the third quarter valued at $1,749,000. 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.