Coterra Energy Inc. (NYSE:CTRA) Receives $32.60 Consensus Target Price from Analysts

Coterra Energy Inc. (NYSE:CTRA) has earned a consensus rating of “Moderate Buy” from the twenty-two brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and sixteen have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $32.60.

A number of analysts recently weighed in on CTRA shares. Raymond James Financial reiterated an “outperform” rating and issued a $34.00 price target (down from $38.00) on shares of Coterra Energy in a research report on Thursday, September 11th. Zacks Research downgraded shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Stephens cut their price target on shares of Coterra Energy from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 21st. Barclays cut their price target on shares of Coterra Energy from $37.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Finally, Siebert Williams Shank cut their price objective on Coterra Energy from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Monday, October 13th.

Hedge Funds Weigh In On Coterra Energy

Several institutional investors have recently modified their holdings of CTRA. GAMMA Investing LLC lifted its holdings in shares of Coterra Energy by 95.8% during the 1st quarter. GAMMA Investing LLC now owns 23,421 shares of the company’s stock valued at $677,000 after purchasing an additional 11,459 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Coterra Energy by 2.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 51,425 shares of the company’s stock valued at $1,486,000 after purchasing an additional 1,037 shares in the last quarter. PFG Investments LLC bought a new position in shares of Coterra Energy during the 1st quarter valued at about $236,000. Asset Management One Co. Ltd. lifted its holdings in shares of Coterra Energy by 2.9% during the 1st quarter. Asset Management One Co. Ltd. now owns 308,617 shares of the company’s stock valued at $8,919,000 after purchasing an additional 8,600 shares in the last quarter. Finally, Daymark Wealth Partners LLC raised its position in Coterra Energy by 17.4% in the 1st quarter. Daymark Wealth Partners LLC now owns 61,643 shares of the company’s stock valued at $1,781,000 after buying an additional 9,118 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

Coterra Energy stock opened at $23.40 on Friday. The firm has a market capitalization of $17.86 billion, a P/E ratio of 11.20, a PEG ratio of 0.36 and a beta of 0.29. Coterra Energy has a 1 year low of $22.33 and a 1 year high of $29.95. The business has a 50-day moving average of $23.76 and a 200-day moving average of $24.48. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29.

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

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Thursday, August 14th. Coterra Energy’s payout ratio is 42.11%.

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.