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

Coterra Energy (NYSE:CTRA) had its price objective boosted by Piper Sandler from $32.00 to $35.00 in a research note published on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently commented on the stock. Morgan Stanley reduced 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 research note on Monday, September 16th. Truist Financial lowered their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Scotiabank reduced their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Finally, Barclays decreased their target price on shares of Coterra Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.24.

Coterra Energy Trading Up 0.4 %

CTRA stock traded up $0.10 on Thursday, hitting $25.53. 4,132,386 shares of the company were exchanged, compared to its average volume of 6,236,401. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $28.90. The business’s fifty day moving average is $23.86 and its two-hundred day moving average is $25.50. The stock has a market capitalization of $18.81 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth 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 earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. Coterra Energy’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 earnings per share. As a group, research analysts forecast that Coterra Energy will post 1.53 earnings per share for the current year.

Coterra Energy Dividend Announcement

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

Hedge Funds Weigh In On Coterra Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Fortitude Family Office LLC increased its position in Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of 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 during the last quarter. Values First Advisors Inc. acquired a new position in Coterra Energy during the third quarter worth $57,000. Tobam acquired a new position in Coterra Energy during the third quarter worth $63,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of 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 purchasing an additional 557 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

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.