Coterra Energy (NYSE:CTRA) Price Target Increased to $32.00 by Analysts at Susquehanna

Coterra Energy (NYSE:CTRA) had its price target hoisted by Susquehanna from $30.00 to $32.00 in a research note published on Monday morning, Benzinga reports. They currently have a positive rating on the stock.

CTRA has been the topic of a number of other research reports. Mizuho reissued a buy rating and issued a $34.00 target price on shares of Coterra Energy in a research note on Wednesday, April 3rd. Piper Sandler upped their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the company an overweight rating in a research note on Friday. UBS Group upped their target price on shares of Coterra Energy from $31.00 to $32.00 and gave the company a buy rating in a research note on Friday, March 1st. JPMorgan Chase & Co. upped their target price on shares of Coterra Energy from $29.00 to $30.00 and gave the company an overweight rating in a research note on Thursday, April 4th. Finally, Morgan Stanley boosted their price target on shares of Coterra Energy from $26.00 to $29.00 and gave the company an equal weight rating in a research report on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $32.47.

Coterra Energy Stock Performance

NYSE:CTRA opened at $27.95 on Monday. The firm’s 50-day moving average is $26.78 and its 200-day moving average is $26.40. Coterra Energy has a 52-week low of $22.91 and a 52-week high of $29.89. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21. The company has a market cap of $21.01 billion, a price-to-earnings ratio of 13.06 and a beta of 0.21.

Coterra Energy (NYSE:CTRA) last posted 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). The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. Equities research analysts anticipate that Coterra Energy will post 1.93 earnings per share for the current year.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.01%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 13th. 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 company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 93,988 shares in the company, valued at $2,449,327.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Todd M. Roemer sold 55,000 shares of the business’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 completion of the sale, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the sale, the vice president now directly 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 company insiders.

Institutional Investors Weigh In On Coterra Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Balyasny Asset Management L.P. bought a new stake in Coterra Energy in the fourth quarter valued at approximately $54,625,000. Schroder Investment Management Group increased its stake in Coterra Energy by 21.7% in the third quarter. Schroder Investment Management Group now owns 7,187,516 shares of the company’s stock valued at $194,422,000 after purchasing an additional 1,281,094 shares in the last quarter. Bridgewater Associates LP bought a new stake in Coterra Energy in the fourth quarter valued at approximately $31,112,000. Dimensional Fund Advisors LP increased its stake in Coterra Energy by 8.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,465,383 shares of the company’s stock valued at $267,089,000 after purchasing an additional 848,519 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Coterra Energy by 60.4% in the third quarter. AQR Capital Management LLC now owns 1,936,277 shares of the company’s stock valued at $52,376,000 after purchasing an additional 729,306 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

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.