Coterra Energy (NYSE:CTRA) Price Target Raised to $32.00

Coterra Energy (NYSE:CTRA) had its price target increased by Susquehanna from $30.00 to $32.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a positive rating on the stock.

Several other research firms have also recently commented on CTRA. Stifel Nicolaus lowered their price target on shares of Coterra Energy from $33.00 to $31.00 and set a buy rating on the stock in a report on Friday, March 22nd. Stephens restated an overweight rating and set a $39.00 price target on shares of Coterra Energy in a report on Tuesday, January 23rd. JPMorgan Chase & Co. boosted their price target on shares of Coterra Energy from $29.00 to $30.00 and gave the company an overweight rating in a report on Thursday, April 4th. Raymond James boosted their price target on shares of Coterra Energy from $32.00 to $34.00 and gave the company an outperform rating in a report on Wednesday, January 24th. Finally, UBS Group boosted their price target on shares of Coterra Energy from $31.00 to $32.00 and gave the company a buy rating in a report on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Coterra Energy currently has an average rating of Moderate Buy and a consensus target price of $32.47.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $28.45 on Monday. The company’s fifty day moving average is $26.95 and its two-hundred day moving average is $26.42. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12. Coterra Energy has a 12-month low of $22.91 and a 12-month high of $29.89. The company has a market cap of $21.39 billion, a P/E ratio of 13.29 and a beta of 0.21.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.54 billion. Equities analysts expect that Coterra Energy will post 1.88 earnings per share for the current fiscal year.

Coterra Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.95%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 13th. Coterra Energy’s dividend payout ratio is 39.25%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at $4,783,071.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the completion of the transaction, the vice president now owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the transaction, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Krilogy Financial LLC acquired a new position in shares of Coterra Energy during the first quarter valued at about $494,000. Verity & Verity LLC acquired a new position in Coterra Energy in the first quarter worth about $521,000. Simplicity Wealth LLC acquired a new position in Coterra Energy in the first quarter worth about $820,000. IRON Financial LLC acquired a new position in Coterra Energy in the first quarter worth about $724,000. Finally, Moody Lynn & Lieberson LLC raised its position in Coterra Energy by 13.7% in the first quarter. Moody Lynn & Lieberson LLC now owns 105,199 shares of the company’s stock worth $2,933,000 after purchasing an additional 12,699 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Company Profile

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.