Coterra Energy Inc. (NYSE:CTRA) Receives $31.29 Consensus Target Price from Brokerages

Shares of Coterra Energy Inc. (NYSE:CTRA) have been assigned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $32.00.

A number of analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of Coterra Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price target for the company. JPMorgan Chase & Co. decreased their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Susquehanna increased their target price on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday. Mizuho boosted their price target on Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Barclays increased their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday.

Hedge Funds Weigh In On Coterra Energy

A number of hedge funds have recently added to or reduced their stakes in the business. Fortitude Family Office LLC lifted its position in shares of 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 buying an additional 567 shares during the last quarter. Larson Financial Group LLC boosted its stake in Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after acquiring an additional 535 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Coterra Energy during the first quarter valued at approximately $44,000. EverSource Wealth Advisors LLC raised its position 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 purchasing an additional 557 shares during the period. Finally, Values First Advisors Inc. bought a new stake in shares of Coterra Energy in the 3rd quarter worth approximately $57,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $25.44 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The firm has a market capitalization of $18.74 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 1.64 and a beta of 0.22. Coterra Energy has a one year low of $22.30 and a one year high of $28.90. The company has a 50 day moving average price of $23.86 and a 200 day moving average price of $25.50.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the business posted $0.47 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. Sell-side analysts anticipate that Coterra Energy will post 1.53 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s dividend payout ratio is currently 50.60%.

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.