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

Coterra Energy (NYSE:CTRA) had its price objective cut by Piper Sandler from $38.00 to $37.00 in a research report report published on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently commented on CTRA. Wolfe Research reduced their price objective on shares of Coterra Energy from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Tuesday, November 4th. Raymond James Financial cut their target price on shares of Coterra Energy from $34.00 to $28.00 in a research note on Tuesday, October 28th. The Goldman Sachs Group decreased their price target on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, October 15th. Wells Fargo & Company increased their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Finally, Scotiabank reduced their target price on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 9th. Seventeen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.38.

Coterra Energy Stock Performance

CTRA stock opened at $26.18 on Tuesday. The firm has a market cap of $19.93 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 0.36 and a beta of 0.30. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average price of $24.21 and a 200-day moving average price of $24.49. Coterra Energy has a 1-year low of $22.33 and a 1-year high of $29.95.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.83 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 EPS. As a group, equities research analysts expect that Coterra Energy will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, November 13th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Thursday, November 13th. Coterra Energy’s dividend payout ratio is currently 40.55%.

Institutional Trading of Coterra Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Truist Financial Corp boosted its holdings in shares of Coterra Energy by 165.3% in the second quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock worth $106,934,000 after acquiring an additional 2,625,126 shares during the period. State of Michigan Retirement System raised its stake in shares of Coterra Energy by 5.8% during the 2nd quarter. State of Michigan Retirement System now owns 244,459 shares of the company’s stock valued at $6,204,000 after purchasing an additional 13,500 shares during the period. Nordea Investment Management AB lifted its holdings in Coterra Energy by 43.2% during the 2nd quarter. Nordea Investment Management AB now owns 57,542 shares of the company’s stock worth $1,468,000 after purchasing an additional 17,373 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its holdings in Coterra Energy by 30.1% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 294,598 shares of the company’s stock worth $7,486,000 after purchasing an additional 68,100 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Coterra Energy by 15.4% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 785,835 shares of the company’s stock worth $19,944,000 after purchasing an additional 104,999 shares during the period. 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.