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

Coterra Energy (NYSE:CTRA) had its target price boosted by Susquehanna from $30.00 to $33.00 in a research note issued to investors on Thursday,Benzinga reports. Susquehanna currently has a positive rating on the stock.

A number of other research firms have also recently issued reports on CTRA. Piper Sandler restated an “overweight” rating and set a $32.00 price objective (up previously from $31.00) on shares of Coterra Energy in a report on Monday, November 4th. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $25.00 to $29.00 in a report on Tuesday, August 27th. UBS Group dropped their price objective on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. dropped their price objective on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Finally, Stephens upped their target price on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.24.

Coterra Energy Price Performance

Shares of NYSE:CTRA traded up $0.10 during trading on Thursday, hitting $25.53. 4,132,386 shares of the company’s stock were exchanged, compared to its average volume of 6,236,401. The business’s 50-day simple moving average is $23.86 and its 200 day simple moving average is $25.50. Coterra Energy has a 52-week low of $22.30 and a 52-week high of $28.90. The company has a market cap of $18.81 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 1.67 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

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

Coterra Energy Announces Dividend

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

Hedge Funds Weigh In On Coterra Energy

Hedge funds have recently bought and sold shares of the business. Fortitude Family Office LLC boosted its position in Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares in the last quarter. Larson Financial Group LLC boosted its position in Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after purchasing an additional 535 shares in the last quarter. Values First Advisors Inc. purchased a new position in Coterra Energy during the third quarter worth approximately $57,000. Tobam purchased a new position in Coterra Energy during the third quarter worth approximately $63,000. Finally, EverSource Wealth Advisors LLC boosted its position in Coterra Energy by 31.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after purchasing an additional 557 shares in the last quarter. Hedge funds and other institutional investors 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.