Barclays Increases Coterra Energy (NYSE:CTRA) Price Target to $33.00

Coterra Energy (NYSE:CTRA) had its target price hoisted by Barclays from $31.00 to $33.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other research analysts also recently issued research reports about the company. Morgan Stanley reduced their price objective on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Stephens upped their target price on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Wells Fargo & Company dropped their target price 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. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Wolfe Research started coverage on shares of Coterra Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $35.00 target price for the company. Two 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 stock. Based on data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.41.

Coterra Energy Trading Up 0.6 %

NYSE:CTRA traded up $0.16 during trading hours on Thursday, hitting $25.59. 5,664,608 shares of the stock were exchanged, compared to its average volume of 6,243,887. The company’s 50 day moving average is $23.86 and its two-hundred day moving average is $25.50. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $28.90. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $18.85 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last posted 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). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the company posted $0.47 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, sell-side analysts anticipate that Coterra Energy will post 1.53 earnings per share for the current fiscal 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 3.28%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s payout ratio is presently 50.60%.

Hedge Funds Weigh In On Coterra Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC boosted its stake in Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares during the period. Larson Financial Group LLC boosted its stake in shares of Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after buying an additional 535 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of Coterra Energy during the 3rd quarter worth about $57,000. Tobam acquired a new position in shares of Coterra Energy during the 3rd quarter worth about $63,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Coterra Energy by 31.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after buying an additional 557 shares during the last quarter. 87.92% of the stock is 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.