Coterra Energy (NYSE:CTRA) Price Target Increased to $29.00 by Analysts at Morgan Stanley

Coterra Energy (NYSE:CTRA) had its price objective increased by Morgan Stanley from $26.00 to $29.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts also recently issued reports on CTRA. Truist Financial cut their price objective on Coterra Energy from $30.00 to $27.00 and set a hold rating for the company in a research report on Friday, April 5th. Stifel Nicolaus reduced their price target on Coterra Energy from $33.00 to $31.00 and set a buy rating on the stock in a research note on Friday, March 22nd. Piper Sandler increased their price target on Coterra Energy from $33.00 to $35.00 and gave the stock an overweight rating in a research note on Thursday, March 7th. Mizuho reissued a buy rating and set a $34.00 price target on shares of Coterra Energy in a research note on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. increased their price target on Coterra Energy from $29.00 to $30.00 and gave the stock an overweight rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $32.20.

Coterra Energy Trading Up 0.1 %

Shares of Coterra Energy stock opened at $27.22 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18. Coterra Energy has a 1 year low of $22.91 and a 1 year high of $29.89. The company has a market capitalization of $20.46 billion, a P/E ratio of 12.72 and a beta of 0.21. The business has a 50 day moving average price of $26.59 and a 200 day moving average price of $26.37.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.54 billion. Sell-side analysts anticipate that Coterra Energy will post 1.92 EPS for the current fiscal year.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.21 per share. The ex-dividend date was Wednesday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 3.09%. Coterra Energy’s dividend payout ratio (DPR) is currently 39.25%.

Insider Activity

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

Hedge Funds Weigh In On Coterra Energy

Large investors have recently bought and sold shares of the business. ICA Group Wealth Management LLC bought a new stake in shares of Coterra Energy during the fourth quarter valued at approximately $25,000. SouthState Corp grew its position in Coterra Energy by 75.4% in the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after buying an additional 454 shares during the last quarter. Quarry LP grew its position in Coterra Energy by 157.4% in the fourth quarter. Quarry LP now owns 1,063 shares of the company’s stock worth $27,000 after buying an additional 650 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new position in Coterra Energy in the fourth quarter worth approximately $33,000. Finally, VisionPoint Advisory Group LLC grew its position in Coterra Energy by 133.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after purchasing an additional 740 shares in 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.