Coterra Energy (NYSE:CTRA) Given New $34.00 Price Target at Barclays

Coterra Energy (NYSE:CTRA) had its price target lowered by Barclays from $35.00 to $34.00 in a research report sent to investors on Wednesday, MarketBeat.com reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts have also recently commented on CTRA. Mizuho raised their price target on Coterra Energy from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Coterra Energy in a research note on Monday, December 29th. Roth Mkm restated a “buy” rating and issued a $27.00 price target on shares of Coterra Energy in a research note on Tuesday, November 4th. Siebert Williams Shank cut their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “buy” rating for the company in a report on Monday, October 13th. Finally, Raymond James Financial boosted their target price on shares of Coterra Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, November 24th. Sixteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.57.

Coterra Energy Stock Performance

CTRA opened at $26.74 on Wednesday. The firm has a market cap of $20.36 billion, a P/E ratio of 12.32, a PEG ratio of 0.58 and a beta of 0.36. Coterra Energy has a 1-year low of $22.33 and a 1-year high of $29.82. The company has a 50 day simple moving average of $26.05 and a two-hundred day simple moving average of $24.77. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.98.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the business earned $0.32 earnings per share. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. Equities analysts forecast that Coterra Energy will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Thursday, November 13th. Coterra Energy’s dividend payout ratio is currently 40.55%.

Institutional Investors Weigh In On Coterra Energy

Large investors have recently bought and sold shares of the business. Davis Selected Advisers grew its stake in shares of Coterra Energy by 112.9% in the 3rd quarter. Davis Selected Advisers now owns 19,883,481 shares of the company’s stock worth $470,244,000 after buying an additional 10,545,340 shares in the last quarter. Vanguard Group Inc. grew its position in Coterra Energy by 4.0% in the third quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after acquiring an additional 3,781,606 shares in the last quarter. AQR Capital Management LLC increased its stake in Coterra Energy by 287.7% during the third quarter. AQR Capital Management LLC now owns 4,573,111 shares of the company’s stock worth $108,154,000 after acquiring an additional 3,393,697 shares during the last quarter. Truist Financial Corp raised its position in Coterra Energy by 165.3% during the second quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock valued at $106,934,000 after purchasing an additional 2,625,126 shares during the period. Finally, HITE Hedge Asset Management LLC lifted its stake in shares of Coterra Energy by 308.9% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 2,362,900 shares of the company’s stock valued at $55,883,000 after purchasing an additional 1,784,967 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.