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

Coterra Energy (NYSE:CTRA) had its price target lifted by Truist Financial from $31.00 to $33.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

CTRA has been the subject of several other reports. Wells Fargo & Company cut their price objective on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Susquehanna raised their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday. 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 report on Thursday, September 12th. Roth Mkm upgraded shares of 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 report on Tuesday, August 27th. Finally, Scotiabank dropped their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.41.

Coterra Energy Stock Performance

NYSE CTRA opened at $25.58 on Thursday. The firm has a 50-day moving average of $23.95 and a 200-day moving average of $25.46. 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 stock has a market cap of $18.84 billion, a PE ratio of 15.41, a P/E/G ratio of 1.67 and a beta of 0.22. Coterra Energy has a 52-week low of $22.30 and a 52-week high of $28.90.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 9.38% and a net margin of 21.91%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the business earned $0.47 earnings per share. On average, sell-side analysts anticipate that Coterra Energy will post 1.53 EPS for the current year.

Coterra Energy Announces Dividend

The business 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. The ex-dividend date of this dividend 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 presently 50.60%.

Institutional Trading of Coterra Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in shares of Coterra Energy by 28.4% during the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after buying an additional 15,736,247 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Coterra Energy by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after buying an additional 305,626 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Coterra Energy by 0.7% during the third quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock worth $453,628,000 after buying an additional 128,397 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Coterra Energy by 1.2% during the third quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after buying an additional 195,966 shares during the last quarter. Finally, King Luther Capital Management Corp grew its stake in shares of Coterra Energy by 4.4% during the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock worth $180,921,000 after buying an additional 285,774 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.