Coterra Energy (NYSE:CTRA) Given New $31.00 Price Target at Raymond James Financial

Coterra Energy (NYSE:CTRA) had its price target lifted by Raymond James Financial from $28.00 to $31.00 in a report issued on Monday,MarketScreener reports. They currently have an outperform rating on the stock.

CTRA has been the subject of several other reports. Susquehanna decreased their price target on shares of Coterra Energy from $32.00 to $31.00 and set a “positive” rating for the company in a report on Monday, October 20th. Mizuho decreased their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Wolfe Research cut their price objective on Coterra Energy from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Tuesday, November 4th. Barclays decreased their price objective on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Coterra Energy in a research note on Wednesday, November 19th. Seventeen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

Coterra Energy Trading Up 1.9%

Shares of Coterra Energy stock opened at $26.24 on Monday. The business has a fifty day simple moving average of $24.33 and a 200-day simple moving average of $24.56. The firm has a market cap of $19.98 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 0.36 and a beta of 0.30. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. Coterra Energy has a fifty-two week low of $22.33 and a fifty-two week high of $29.95.

Coterra Energy (NYSE:CTRA) last released 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 analyst estimates 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 period in the prior year, the company earned $0.32 earnings per share. On average, equities analysts forecast that Coterra Energy will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, November 13th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.88 annualized dividend and a yield of 3.4%. Coterra Energy’s dividend payout ratio is 40.55%.

Institutional Trading of Coterra Energy

A number of hedge funds have recently made changes to their positions in CTRA. Vanguard Group Inc. lifted its stake in shares of Coterra Energy by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after buying an additional 3,781,606 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Coterra Energy by 15.3% in the 1st quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock valued at $2,416,939,000 after purchasing an additional 11,102,350 shares during the last quarter. State Street Corp grew its holdings in shares of Coterra Energy by 0.9% during the 2nd quarter. State Street Corp now owns 45,588,319 shares of the company’s stock valued at $1,157,032,000 after purchasing an additional 386,526 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Coterra Energy by 5.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock worth $680,197,000 after purchasing an additional 1,495,553 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Coterra Energy by 2.5% in the 3rd quarter. Victory Capital Management Inc. now owns 21,581,809 shares of the company’s stock valued at $510,410,000 after acquiring an additional 534,132 shares during the period. 87.92% of the stock is owned by institutional investors and hedge funds.

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.