Morgan Stanley Boosts Coterra Energy (NYSE:CTRA) Price Target to $29.00

Coterra Energy (NYSE:CTRA) had its price target hoisted by Morgan Stanley from $26.00 to $29.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other equities analysts also recently issued research reports about the company. Raymond James boosted their target price on Coterra Energy from $32.00 to $34.00 and gave the stock an outperform rating in a research note on Wednesday, January 24th. Truist Financial reduced their price objective on Coterra Energy from $30.00 to $27.00 and set a hold rating for the company in a research note on Friday, April 5th. Susquehanna upgraded Coterra Energy from a neutral rating to a positive rating and lowered their target price for the stock from $31.00 to $30.00 in a research note on Friday, January 26th. UBS Group boosted their price target on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a buy rating in a report on Friday, March 1st. Finally, Barclays started coverage on shares of Coterra Energy in a report on Wednesday, April 10th. They set an overweight rating and a $36.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Coterra Energy currently has an average rating of Moderate Buy and a consensus target price of $32.33.

Coterra Energy Trading Up 1.9 %

NYSE CTRA opened at $27.75 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $26.64 and a 200 day simple moving average of $26.37. Coterra Energy has a 12 month low of $22.91 and a 12 month high of $29.89. The firm has a market capitalization of $20.86 billion, a P/E ratio of 12.97 and a beta of 0.21.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.54 billion. On average, analysts predict that Coterra Energy will post 1.93 EPS for the current fiscal year.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.21 per share. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.84 dividend on an annualized basis and a yield of 3.03%. Coterra Energy’s payout ratio is presently 39.25%.

Insider Transactions at Coterra Energy

In related news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the sale, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Todd M. Roemer sold 55,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the transaction, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the completion of the sale, the vice president now owns 93,988 shares in the company, valued at $2,449,327.28. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC bought a new stake in shares of Coterra Energy during the 4th quarter valued at about $25,000. SouthState Corp lifted its position in Coterra Energy by 75.4% during the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after purchasing an additional 454 shares during the last quarter. Quarry LP grew its stake in Coterra Energy by 157.4% in the 4th quarter. Quarry LP now owns 1,063 shares of the company’s stock worth $27,000 after buying an additional 650 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new position in shares of Coterra Energy in the 4th quarter worth $33,000. Finally, VisionPoint Advisory Group LLC raised its position in shares of Coterra Energy by 133.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock valued at $35,000 after buying an additional 740 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

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.