Coterra Energy (NYSE:CTRA) Receives “Outperform” Rating from Raymond James Financial

Raymond James Financial reaffirmed their outperform rating on shares of Coterra Energy (NYSE:CTRA) in a research note released on Thursday morning,Benzinga reports. The firm currently has a $34.00 target price on the stock, down from their prior target price of $38.00.

A number of other equities analysts have also recently issued reports on CTRA. Barclays increased their target price on Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, July 7th. Pickering Energy Partners cut Coterra Energy from an “outperform” rating to a “neutral” rating in a report on Tuesday, May 20th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $31.00 target price on shares of Coterra Energy in a report on Tuesday, July 1st. Piper Sandler increased their target price on Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Finally, Wells Fargo & Company increased their target price on Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.39.

Coterra Energy Price Performance

Coterra Energy stock opened at $24.36 on Thursday. The stock has a market capitalization of $18.59 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 0.33 and a beta of 0.34. Coterra Energy has a 52-week low of $22.41 and a 52-week high of $29.95. The stock’s 50 day moving average price is $24.15 and its two-hundred day moving average price is $25.34. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the company posted $0.37 earnings per share. Coterra Energy’s quarterly revenue was up 54.6% on a year-over-year basis. On average, equities analysts predict that Coterra Energy will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy’s dividend payout ratio (DPR) is presently 42.11%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CTRA. Cornerstone Planning Group LLC raised its stake in shares of Coterra Energy by 175.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock worth $25,000 after purchasing an additional 555 shares during the period. Raleigh Capital Management Inc. raised its stake in shares of Coterra Energy by 463.5% during the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock worth $26,000 after purchasing an additional 737 shares during the period. Bogart Wealth LLC bought a new stake in shares of Coterra Energy during the 2nd quarter worth $26,000. REAP Financial Group LLC raised its stake in shares of Coterra Energy by 190.1% during the 2nd quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock worth $28,000 after purchasing an additional 726 shares during the period. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Coterra Energy during the 1st quarter worth $29,000. 87.92% of the stock is owned by institutional investors.

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.