Analysts Set Coterra Energy Inc. (NYSE:CTRA) Target Price at $32.33

Coterra Energy Inc. (NYSE:CTRA) has received a consensus rating of “Moderate Buy” from the fifteen research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $32.47.

Several brokerages have recently commented on CTRA. JPMorgan Chase & Co. upped their price objective on shares of Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Morgan Stanley lifted their price objective on Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Scotiabank increased their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. 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. Finally, Piper Sandler increased their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th.

Insider Activity

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

Institutional Investors Weigh In On Coterra Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Significant Wealth Partners LLC acquired a new stake in shares of Coterra Energy during the fourth quarter worth about $1,604,000. Van ECK Associates Corp lifted its stake in Coterra Energy by 2.1% in the third quarter. Van ECK Associates Corp now owns 113,399 shares of the company’s stock valued at $3,068,000 after buying an additional 2,376 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Coterra Energy in the third quarter valued at approximately $1,461,000. HITE Hedge Asset Management LLC purchased a new position in shares of Coterra Energy during the fourth quarter worth approximately $11,485,000. Finally, Nordea Investment Management AB increased its holdings in shares of Coterra Energy by 3.9% in the 3rd quarter. Nordea Investment Management AB now owns 803,979 shares of the company’s stock valued at $21,844,000 after acquiring an additional 30,237 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

NYSE:CTRA opened at $28.45 on Monday. Coterra Energy has a 52 week low of $22.91 and a 52 week high of $29.89. The stock’s fifty day moving average is $26.95 and its two-hundred day moving average is $26.42. The company has a market capitalization of $21.39 billion, a P/E ratio of 13.29 and a beta of 0.21. 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 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). The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. Equities analysts expect that Coterra Energy will post 1.88 EPS for the current year.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.21 dividend. 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 dividend on an annualized basis and a dividend yield of 2.95%. Coterra Energy’s dividend payout ratio is currently 39.25%.

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.