Wolfe Research Issues Positive Forecast for Coterra Energy (NYSE:CTRA) Stock Price

Coterra Energy (NYSE:CTRA) had its target price hoisted by Wolfe Research from $32.00 to $33.00 in a research report released on Monday morning,MarketScreener reports. They currently have an outperform rating on the stock.

Several other analysts also recently issued reports on the stock. Stephens cut their target price on shares of Coterra Energy from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 21st. Johnson Rice dropped their price target on Coterra Energy from $38.00 to $37.00 in a research report on Friday, December 5th. Susquehanna raised their price objective on Coterra Energy from $31.00 to $32.00 and gave the stock a “positive” rating in a research report on Monday. Zacks Research downgraded Coterra Energy from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Finally, William Blair began coverage on shares of Coterra Energy in a research report on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 price target for the company. Sixteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.81.

Coterra Energy Stock Performance

Shares of CTRA opened at $27.42 on Monday. The company has a 50-day moving average of $26.13 and a two-hundred day moving average of $24.82. The stock has a market cap of $20.88 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 0.61 and a beta of 0.36. 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 has a one year low of $22.33 and a one year high of $29.82.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.83 billion. During the same quarter in the prior year, the firm earned $0.32 EPS. The firm’s revenue was up 33.7% compared to the same quarter last year. On average, 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 was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Thursday, November 13th. Coterra Energy’s payout ratio is currently 40.55%.

Institutional Investors Weigh In On Coterra Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. Perigon Wealth Management LLC lifted its position in shares of Coterra Energy by 12.4% in the second quarter. Perigon Wealth Management LLC now owns 10,356 shares of the company’s stock worth $263,000 after buying an additional 1,143 shares during the last quarter. Hartford Investment Management Co. raised its stake in shares of Coterra Energy by 2.7% in the 2nd quarter. Hartford Investment Management Co. now owns 46,198 shares of the company’s stock valued at $1,173,000 after acquiring an additional 1,213 shares in the last quarter. Patton Fund Management Inc. acquired a new stake in Coterra Energy in the 2nd quarter worth approximately $220,000. V Square Quantitative Management LLC boosted its position in Coterra Energy by 8.6% during the second quarter. V Square Quantitative Management LLC now owns 11,573 shares of the company’s stock worth $294,000 after purchasing an additional 913 shares during the period. Finally, Washington Capital Management Inc. boosted its position in Coterra Energy by 27.7% during the second quarter. Washington Capital Management Inc. now owns 24,000 shares of the company’s stock worth $609,000 after purchasing an additional 5,200 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.