Coterra Energy (NYSE:CTRA) Given New $33.00 Price Target at Truist Financial

Coterra Energy (NYSE:CTRA) had its target price increased by Truist Financial from $31.00 to $33.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also issued reports about the stock. Scotiabank reduced their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Morgan Stanley cut their price objective on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Piper Sandler increased their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday. Barclays increased their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.24.

Coterra Energy Price Performance

Coterra Energy stock traded up $0.10 during trading hours on Thursday, hitting $25.53. 4,132,386 shares of the stock were exchanged, compared to its average volume of 6,236,401. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The stock has a market capitalization of $18.81 billion, a P/E ratio of 15.57, a P/E/G ratio of 1.67 and a beta of 0.22. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $28.90. The business’s 50-day moving average is $23.86 and its two-hundred day moving average is $25.50.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the company posted $0.47 earnings per share. Coterra Energy’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts expect that Coterra Energy will post 1.53 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is currently 50.60%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Fortitude Family Office LLC grew its position in Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after purchasing an additional 567 shares in the last quarter. Larson Financial Group LLC grew its position in Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after purchasing an additional 535 shares in the last quarter. Values First Advisors Inc. acquired a new stake in Coterra Energy in the third quarter valued at $57,000. Tobam acquired a new stake in Coterra Energy in the third quarter valued at $63,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Coterra Energy by 31.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after acquiring an additional 557 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

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.