Coterra Energy (NYSE:CTRA – Free Report) had its price target reduced by UBS Group from $36.00 to $34.00 in a report published on Thursday, Benzinga reports. They currently have a buy rating on the stock.
Several other research analysts also recently weighed in on the company. Barclays began coverage on Coterra Energy in a research note on Wednesday, April 10th. They issued an overweight rating and a $36.00 target price on the stock. Susquehanna lifted their price target on Coterra Energy from $32.00 to $33.00 and gave the company a positive rating in a research note on Tuesday, May 7th. Mizuho lifted their price target on Coterra Energy from $37.00 to $41.00 and gave the company a buy rating in a research note on Monday, May 13th. Scotiabank lifted their price target on Coterra Energy from $31.00 to $35.00 and gave the company a sector outperform rating in a research note on Thursday, April 11th. Finally, Bank of America reiterated a buy rating and set a $34.00 target price on shares of Coterra Energy in a research report on Friday, June 14th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Coterra Energy has an average rating of Moderate Buy and a consensus price target of $34.06.
Check Out Our Latest Stock Report on CTRA
Coterra Energy Trading Up 0.5 %
CTRA opened at $24.10 on Thursday. The firm has a market cap of $17.94 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.49 and a beta of 0.24. Coterra Energy has a 52 week low of $23.18 and a 52 week high of $29.89. The business’s 50 day moving average is $26.47 and its two-hundred day moving average is $26.70. The company has a quick ratio of 1.46, a current ratio of 1.49 and a debt-to-equity ratio of 0.16.
Coterra Energy (NYSE:CTRA – Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.49%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, research analysts predict that Coterra Energy will post 2.02 EPS for the current year.
Coterra Energy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.49%. Coterra Energy’s dividend payout ratio (DPR) is 48.55%.
Hedge Funds Weigh In On Coterra Energy
A number of institutional investors have recently made changes to their positions in CTRA. Fortitude Family Office LLC raised its holdings in shares of Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after acquiring an additional 567 shares during the last quarter. Larson Financial Group LLC increased its stake in 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. Wetzel Investment Advisors Inc. acquired a new position in Coterra Energy in the fourth quarter valued at $33,000. Tennessee Valley Asset Management Partners acquired a new position in Coterra Energy in the fourth quarter valued at $33,000. Finally, Headlands Technologies LLC increased its stake in Coterra Energy by 397.7% in the fourth quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock valued at $44,000 after purchasing an additional 1,392 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.
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.
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