Coterra Energy (NYSE:CTRA) Given New $38.00 Price Target at Piper Sandler

Coterra Energy (NYSE:CTRA) had its target price trimmed by Piper Sandler from $39.00 to $38.00 in a research report report published on Tuesday, Marketbeat reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts also recently weighed in on the stock. Siebert Williams Shank cut their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Wells Fargo & Company upped their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Stephens cut their target price on shares of Coterra Energy from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday. Raymond James Financial reissued an “outperform” rating and issued a $34.00 price objective (down from $38.00) on shares of Coterra Energy in a research report on Thursday, September 11th. Finally, UBS Group dropped their price objective on shares of Coterra Energy from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, October 14th. Sixteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and an average target price of $32.60.

Coterra Energy Price Performance

Shares of CTRA opened at $23.33 on Tuesday. Coterra Energy has a fifty-two week low of $22.33 and a fifty-two week high of $29.95. The firm’s 50 day moving average price is $23.78 and its 200 day moving average price is $24.54. The company has a market cap of $17.80 billion, a P/E ratio of 11.16, a PEG ratio of 0.35 and a beta of 0.29. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The business had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the previous year, the company earned $0.37 earnings per share. Coterra Energy’s quarterly revenue was up 54.6% on a year-over-year basis. On average, research analysts forecast that Coterra Energy will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.8%. Coterra Energy’s dividend payout ratio is currently 42.11%.

Institutional Investors Weigh In On Coterra Energy

A number of large investors have recently modified their holdings of CTRA. Saxon Interests Inc. grew its position in shares of Coterra Energy by 5.1% in the 1st quarter. Saxon Interests Inc. now owns 9,319 shares of the company’s stock valued at $269,000 after buying an additional 451 shares during the last quarter. Trust Co. of Vermont grew its position in shares of Coterra Energy by 1.5% in the 3rd quarter. Trust Co. of Vermont now owns 30,832 shares of the company’s stock valued at $729,000 after buying an additional 454 shares during the last quarter. Tectonic Advisors LLC grew its position in shares of Coterra Energy by 3.2% in the 1st quarter. Tectonic Advisors LLC now owns 14,834 shares of the company’s stock valued at $429,000 after buying an additional 459 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Coterra Energy by 2.1% in the 3rd quarter. GAMMA Investing LLC now owns 22,763 shares of the company’s stock valued at $538,000 after buying an additional 462 shares during the last quarter. Finally, Hartford Funds Management Co LLC grew its position in shares of Coterra Energy by 1.4% in the 1st quarter. Hartford Funds Management Co LLC now owns 35,301 shares of the company’s stock valued at $1,020,000 after buying an additional 472 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

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.