Coterra Energy (NYSE:CTRA) Given New $35.00 Price Target at Siebert Williams Shank

Coterra Energy (NYSE:CTRA) had its target price increased by Siebert Williams Shank from $32.00 to $35.00 in a report published on Monday,MarketScreener reports. Siebert Williams Shank currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on CTRA. UBS Group upped their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Piper Sandler dropped their price objective on shares of Coterra Energy from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Tuesday, November 18th. Morgan Stanley cut their price objective on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. Zacks Research cut Coterra Energy from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Finally, Johnson Rice dropped their price target on Coterra Energy from $38.00 to $37.00 in a research report on Friday, December 5th. Sixteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.81.

Coterra Energy Price Performance

NYSE:CTRA opened at $27.42 on Monday. The stock has a 50 day moving average of $26.13 and a two-hundred day moving average of $24.82. Coterra Energy has a 12 month low of $22.33 and a 12 month high of $29.82. The firm has a market cap of $20.88 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 0.61 and a beta of 0.36. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25.

Coterra Energy (NYSE:CTRA) last released its earnings results on Monday, November 3rd. The company reported $0.41 earnings per share 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 during the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter last year, the business earned $0.32 EPS. The business’s revenue was up 33.7% compared to the same quarter last year. On average, analysts expect that Coterra Energy will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors 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 3.2%. The ex-dividend date of this dividend was Thursday, November 13th. Coterra Energy’s dividend payout ratio (DPR) is presently 40.55%.

Institutional Inflows and Outflows

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