Coterra Energy Inc. (NYSE:CTRA) Receives $32.90 Consensus Price Target from Brokerages

Shares of Coterra Energy Inc. (NYSE:CTRA) have been given an average recommendation of “Moderate Buy” by the twenty-three brokerages that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $32.9048.

CTRA has been the subject of several research analyst reports. Raymond James Financial upped their price target on shares of Coterra Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, November 24th. Mizuho dropped their price objective on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, September 15th. UBS Group increased their target price on Coterra Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday. William Blair assumed coverage on Coterra Energy in a report on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 target price on the stock. Finally, Johnson Rice dropped their price target on Coterra Energy from $38.00 to $37.00 in a research note on Friday, December 5th.

Institutional Investors Weigh In On Coterra Energy

Several institutional investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Coterra Energy by 6.9% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,172 shares of the company’s stock valued at $988,000 after acquiring an additional 2,199 shares in the last quarter. Public Sector Pension Investment Board raised its position in Coterra Energy by 3.0% in the first quarter. Public Sector Pension Investment Board now owns 196,887 shares of the company’s stock valued at $5,690,000 after purchasing an additional 5,723 shares during the period. Resona Asset Management Co. Ltd. raised its position in Coterra Energy by 5.5% in the first quarter. Resona Asset Management Co. Ltd. now owns 226,498 shares of the company’s stock valued at $6,536,000 after purchasing an additional 11,887 shares during the period. Boston Partners acquired a new position in shares of Coterra Energy during the first quarter worth about $661,000. Finally, Horizon Investments LLC boosted its position in shares of Coterra Energy by 4.5% in the first quarter. Horizon Investments LLC now owns 10,935 shares of the company’s stock worth $316,000 after buying an additional 474 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

NYSE CTRA opened at $26.28 on Friday. The business’s 50-day moving average price is $25.22 and its 200 day moving average price is $24.78. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. Coterra Energy has a twelve month low of $22.33 and a twelve month high of $29.95. The company has a market capitalization of $20.01 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 0.44 and a beta of 0.33.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter last year, the firm earned $0.32 EPS. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. On average, research analysts predict that Coterra Energy will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Thursday, November 13th. Coterra Energy’s dividend payout ratio is 40.55%.

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.