Coterra Energy (NYSE:CTRA) Given New $33.00 Price Target at Barclays

Coterra Energy (NYSE:CTRA) had its price target lifted by Barclays from $31.00 to $33.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the company. UBS Group cut their price objective on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Stephens increased their target price on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Piper Sandler increased their target price on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday. Susquehanna increased their target price on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday. Finally, JPMorgan Chase & Co. cut their price objective on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.41.

Coterra Energy Stock Up 0.6 %

NYSE CTRA traded up $0.16 on Thursday, hitting $25.59. 5,664,608 shares of the stock traded hands, compared to its average volume of 6,243,887. The stock has a 50-day moving average of $23.86 and a 200 day moving average of $25.50. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $28.90. The company has a market capitalization of $18.85 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the company earned $0.47 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts expect that Coterra Energy will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s dividend payout ratio is 50.60%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTRA. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Coterra Energy in the first quarter valued at approximately $656,000. Quadrature Capital Ltd raised its stake in shares of Coterra Energy by 112.2% in the first quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock valued at $2,018,000 after acquiring an additional 38,278 shares during the last quarter. CreativeOne Wealth LLC raised its stake in shares of Coterra Energy by 130.3% in the first quarter. CreativeOne Wealth LLC now owns 56,860 shares of the company’s stock valued at $1,586,000 after acquiring an additional 32,173 shares during the last quarter. Raymond James & Associates raised its stake in shares of Coterra Energy by 5.0% in the second quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after acquiring an additional 56,748 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its stake in shares of Coterra Energy by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after acquiring an additional 51,249 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

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.