Brokerages Set Coterra Energy Inc. (NYSE:CTRA) Target Price at $32.59

Shares of Coterra Energy Inc. (NYSE:CTRA) have been assigned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $32.59.

CTRA has been the topic of several recent research reports. Susquehanna cut their target price on Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Wolfe Research began coverage on Coterra Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price objective on the stock. Morgan Stanley decreased their target price on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a research report on Wednesday, July 3rd. Finally, Piper Sandler decreased their price objective on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, August 15th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Coterra Energy by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock valued at $2,243,900,000 after purchasing an additional 407,244 shares during the period. Schroder Investment Management Group grew its position in Coterra Energy by 8.7% in the fourth quarter. Schroder Investment Management Group now owns 7,815,648 shares of the company’s stock valued at $199,455,000 after acquiring an additional 628,132 shares during the period. King Luther Capital Management Corp grew its position in Coterra Energy by 4.4% in the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock valued at $180,921,000 after acquiring an additional 285,774 shares during the period. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Coterra Energy by 1.0% during the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after acquiring an additional 51,249 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Coterra Energy by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after purchasing an additional 1,013,107 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Trading Down 2.1 %

Coterra Energy stock opened at $23.27 on Thursday. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $29.89. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The stock has a market cap of $17.20 billion, a P/E ratio of 13.45, a P/E/G ratio of 1.37 and a beta of 0.22. The company’s fifty day simple moving average is $24.21 and its 200-day simple moving average is $26.34.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 EPS. As a group, sell-side analysts forecast that Coterra Energy will post 1.74 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.61%. Coterra Energy’s dividend payout ratio (DPR) is currently 48.55%.

About Coterra Energy

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.