Coterra Energy Inc. (NYSE:CTRA) Receives $31.29 Average Price Target from Analysts

Coterra Energy Inc. (NYSE:CTRA) has been given an average rating of “Moderate Buy” by the nineteen research firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $31.29.

CTRA has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $25.00 to $29.00 in a research note on Tuesday, August 27th. Wolfe Research started coverage on Coterra Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price target on the stock. JPMorgan Chase & Co. dropped their price objective 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, Stephens upped their target price on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st.

Coterra Energy Price Performance

Shares of CTRA opened at $25.22 on Friday. The business’s 50-day moving average is $23.82 and its two-hundred day moving average is $25.49. The company has a market capitalization of $18.58 billion, a P/E ratio of 15.19, a P/E/G ratio of 1.59 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 company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.61.

Coterra Energy (NYSE:CTRA) last announced 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 company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the business posted $0.47 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. Research analysts predict that Coterra Energy will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s dividend payout ratio is currently 50.60%.

Hedge Funds Weigh In On Coterra Energy

Institutional investors have recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Coterra Energy during the first quarter worth about $656,000. Quadrature Capital Ltd increased its holdings in shares of Coterra Energy by 112.2% during the 1st quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock worth $2,018,000 after buying an additional 38,278 shares during the last quarter. CreativeOne Wealth LLC raised its position in shares of Coterra Energy by 130.3% during the 1st quarter. CreativeOne Wealth LLC now owns 56,860 shares of the company’s stock valued at $1,586,000 after buying an additional 32,173 shares during the period. Raymond James & Associates lifted its holdings in Coterra Energy by 5.0% in the second quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after acquiring an additional 56,748 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its position 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 worth $135,055,000 after acquiring an additional 51,249 shares during the period. Hedge funds and other 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.