Piper Sandler Cuts Coterra Energy (NYSE:CTRA) Price Target to $38.00

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

Several other research firms have also commented on CTRA. JPMorgan Chase & Co. raised their price objective on Coterra Energy from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Scotiabank cut their price objective on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 9th. UBS Group lowered their target price on Coterra Energy from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Stephens lowered their target price on Coterra Energy from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Mizuho lowered their target price on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Sixteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $32.60.

Coterra Energy Trading Up 1.9%

NYSE:CTRA opened at $23.75 on Tuesday. The business’s 50-day moving average is $23.75 and its two-hundred day moving average is $24.52. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. Coterra Energy has a 12 month low of $22.33 and a 12 month high of $29.95. The firm has a market capitalization of $18.12 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 0.36 and a beta of 0.29.

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

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Thursday, August 14th. Coterra Energy’s dividend payout ratio (DPR) is 42.11%.

Hedge Funds Weigh In On Coterra Energy

A number of hedge funds have recently bought and sold shares of the company. Steigerwald Gordon & Koch Inc. acquired a new position in Coterra Energy in the third quarter worth about $50,000. Benjamin Edwards Inc. acquired a new position in Coterra Energy in the third quarter worth about $308,000. HB Wealth Management LLC lifted its holdings in Coterra Energy by 29.8% in the third quarter. HB Wealth Management LLC now owns 19,275 shares of the company’s stock worth $456,000 after acquiring an additional 4,429 shares during the last quarter. Moran Wealth Management LLC lifted its holdings in Coterra Energy by 80.2% in the third quarter. Moran Wealth Management LLC now owns 210,427 shares of the company’s stock worth $4,977,000 after acquiring an additional 93,684 shares during the last quarter. Finally, Outfitters Financial LLC lifted its holdings in Coterra Energy by 9.3% in the third quarter. Outfitters Financial LLC now owns 33,656 shares of the company’s stock worth $796,000 after acquiring an additional 2,875 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

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.