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

Coterra Energy (NYSE:CTRA) had its price objective lifted by UBS Group from $31.00 to $35.00 in a research report report published on Friday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on the company. Wells Fargo & Company decreased their price target on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. JPMorgan Chase & Co. cut their price target on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Barclays raised their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Morgan Stanley increased their target price on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.41.

Coterra Energy Stock Up 2.1 %

Shares of NYSE:CTRA opened at $26.12 on Friday. 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 $19.24 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.67 and a beta of 0.22. The firm has a fifty day moving average price of $23.95 and a 200 day moving average price of $25.45.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (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 analysts’ expectations of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 EPS. Sell-side analysts predict that Coterra Energy will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s payout ratio is currently 50.60%.

Hedge Funds Weigh In On Coterra Energy

Several hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp boosted its stake in shares of Coterra Energy by 0.6% during the second quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock valued at $1,897,000 after acquiring an additional 399 shares during the last quarter. TCW Group Inc. grew its stake in Coterra Energy by 4.0% in the 2nd quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock worth $279,000 after acquiring an additional 404 shares during the period. Cornercap Investment Counsel Inc. increased its stake in Coterra Energy by 0.7% in the second quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock valued at $1,768,000 after purchasing an additional 436 shares during the last quarter. Bruce G. Allen Investments LLC increased its stake in shares of Coterra Energy by 17.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock valued at $73,000 after acquiring an additional 450 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its position in Coterra Energy by 1.4% during the third quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock worth $804,000 after purchasing an additional 474 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.