Coterra Energy’s (CTRA) “Buy” Rating Reaffirmed at Mizuho

Mizuho reiterated their buy rating on shares of Coterra Energy (NYSE:CTRA) in a research report report published on Wednesday, Benzinga reports. The firm currently has a $34.00 target price on the stock.

Other research analysts have also issued research reports about the company. Morgan Stanley reduced their price target on Coterra Energy from $27.00 to $26.00 and set an equal weight rating on the stock in a research note on Thursday, March 28th. Stephens reaffirmed an overweight rating and issued a $39.00 target price on shares of Coterra Energy in a research report on Tuesday, January 23rd. Wells Fargo & Company raised Coterra Energy from an equal weight rating to an overweight rating and set a $30.00 target price on the stock in a research report on Thursday, December 14th. Raymond James increased their target price on Coterra Energy from $32.00 to $34.00 and gave the stock an outperform rating in a research report on Wednesday, January 24th. Finally, UBS Group increased their target price on Coterra Energy from $31.00 to $32.00 and gave the stock a buy rating in a research report on Friday, March 1st. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $31.77.

Coterra Energy Trading Up 0.3 %

Shares of Coterra Energy stock opened at $28.38 on Wednesday. Coterra Energy has a fifty-two week low of $22.91 and a fifty-two week high of $29.89. The firm has a market cap of $21.33 billion, a PE ratio of 13.26 and a beta of 0.21. The business’s fifty day moving average is $25.99 and its two-hundred day moving average is $26.31. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Analysts anticipate that Coterra Energy will post 1.98 earnings per share for the current year.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.21 dividend. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend was Wednesday, March 13th. Coterra Energy’s dividend payout ratio is currently 39.25%.

Insider Activity at Coterra Energy

In related news, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the sale, the vice president now directly owns 93,988 shares in the company, valued at approximately $2,449,327.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at $4,783,071.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following the sale, the vice president now owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Institutional Trading of Coterra Energy

Several large investors have recently modified their holdings of CTRA. Vanguard Group Inc. acquired a new stake in shares of Coterra Energy during the first quarter valued at about $2,472,575,000. State Street Corp acquired a new position in Coterra Energy in the first quarter worth about $1,493,855,000. Northern Trust Corp acquired a new position in Coterra Energy in the first quarter worth about $300,998,000. Invesco Ltd. acquired a new position in Coterra Energy in the first quarter worth about $169,781,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in Coterra Energy in the first quarter worth about $151,999,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

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.