Piper Sandler Boosts Coterra Energy (NYSE:CTRA) Price Target to $37.00

Coterra Energy (NYSE:CTRA) had its target price upped by Piper Sandler from $35.00 to $37.00 in a research report report published on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also issued reports on CTRA. Susquehanna raised shares of Coterra Energy from a neutral rating to a positive rating and lowered their price target for the company from $31.00 to $30.00 in a research report on Friday, January 26th. Stephens reissued an overweight rating and issued a $39.00 price target on shares of Coterra Energy in a research report on Tuesday, January 23rd. Truist Financial lowered their price target on shares of Coterra Energy from $30.00 to $27.00 and set a hold rating on the stock in a research report on Friday, April 5th. JPMorgan Chase & Co. boosted their price target on shares of Coterra Energy from $29.00 to $30.00 and gave the company an overweight rating in a research report on Thursday, April 4th. Finally, Mizuho reissued a buy rating and issued a $34.00 price target on shares of Coterra Energy in a research report on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy presently has a consensus rating of Moderate Buy and a consensus price target of $32.33.

Coterra Energy Stock Up 1.9 %

CTRA opened at $27.75 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12. The stock has a market cap of $20.86 billion, a price-to-earnings ratio of 12.97 and a beta of 0.21. Coterra Energy has a twelve month low of $22.91 and a twelve month high of $29.89. The company’s 50-day moving average price is $26.71 and its two-hundred day moving average price is $26.38.

Coterra Energy (NYSE:CTRA) last released its 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 net margin of 27.48% and a return on equity of 12.97%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.54 billion. As a group, equities analysts expect that Coterra Energy will post 1.93 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. Stockholders of record on Thursday, March 14th were issued a $0.21 dividend. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.03%. Coterra Energy’s dividend payout ratio is presently 39.25%.

Insider Transactions at Coterra Energy

In other news, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction on Friday, March 1st. The shares were 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 approximately $2,449,327.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, 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 value of $364,840.00. Following the completion of the sale, the vice president now owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors have recently made changes to their positions in the business. Beacon Investment Advisors LLC boosted its stake in shares of Coterra Energy by 0.7% in the 3rd quarter. Beacon Investment Advisors LLC now owns 62,447 shares of the company’s stock valued at $1,689,000 after purchasing an additional 422 shares in the last quarter. Stone House Investment Management LLC boosted its position in Coterra Energy by 32.4% during the 4th quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock valued at $46,000 after buying an additional 438 shares during the period. SouthState Corp boosted its position in Coterra Energy by 75.4% during the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after buying an additional 454 shares during the period. Echo Street Capital Management LLC boosted its position in Coterra Energy by 5.5% during the 4th quarter. Echo Street Capital Management LLC now owns 9,084 shares of the company’s stock valued at $223,000 after buying an additional 477 shares during the period. Finally, Hoxton Planning & Management LLC boosted its position in Coterra Energy by 3.9% during the 1st quarter. Hoxton Planning & Management LLC now owns 13,238 shares of the company’s stock valued at $325,000 after buying an additional 500 shares during the period. Hedge funds and other 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.