Piper Sandler Cuts Coterra Energy (NYSE:CTRA) Price Target to $31.00

Coterra Energy (NYSE:CTRAGet Rating) had its target price lowered by Piper Sandler from $33.00 to $31.00 in a research report report published on Thursday morning, The Fly reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts have also recently commented on the company. Wolfe Research raised Coterra Energy from an underperform rating to a peer perform rating in a report on Monday, November 7th. Mizuho cut their target price on Coterra Energy from $43.00 to $42.00 and set a buy rating on the stock in a research note on Monday, October 24th. Jefferies Financial Group began coverage on Coterra Energy in a research note on Wednesday, October 19th. They set a hold rating and a $32.00 target price on the stock. MKM Partners reiterated a neutral rating and issued a $26.00 price target on shares of Coterra Energy in a report on Wednesday, July 20th. Finally, Raymond James lowered their price target on Coterra Energy from $42.00 to $36.00 and set an outperform rating for the company in a report on Monday, October 24th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $34.00.

Coterra Energy Stock Performance

Coterra Energy stock opened at $26.60 on Thursday. The company has a quick ratio of 1.62, a current ratio of 1.66 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $20.97 billion, a P/E ratio of 5.37, a PEG ratio of 0.10 and a beta of 0.23. The stock’s 50 day moving average is $28.80 and its 200 day moving average is $29.45. Coterra Energy has a twelve month low of $18.39 and a twelve month high of $36.55.

Coterra Energy (NYSE:CTRAGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.05. Coterra Energy had a return on equity of 29.82% and a net margin of 44.15%. The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.43 billion. On average, equities research analysts predict that Coterra Energy will post 4.88 earnings per share for the current fiscal year.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 10.23%. The ex-dividend date is Tuesday, November 15th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.15. Coterra Energy’s dividend payout ratio is currently 12.12%.

Hedge Funds Weigh In On Coterra Energy

Several hedge funds have recently made changes to their positions in the company. Capital Analysts LLC acquired a new stake in Coterra Energy during the 1st quarter worth about $27,000. Larson Financial Group LLC acquired a new stake in shares of Coterra Energy during the 1st quarter worth approximately $28,000. BerganKDV Wealth Management LLC acquired a new stake in shares of Coterra Energy during the 1st quarter worth approximately $29,000. Eagle Bay Advisors LLC acquired a new stake in shares of Coterra Energy during the 1st quarter worth approximately $29,000. Finally, Patriot Financial Group Insurance Agency LLC increased its holdings in Coterra Energy by 239.3% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,106 shares of the company’s stock valued at $29,000 after purchasing an additional 780 shares during the last quarter. 93.39% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Company Profile

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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. It primarily focuses on the Marcellus Shale with approximately 177,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

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