Coterra Energy (NYSE:CTRA) Price Target Lowered to $34.00 at JPMorgan Chase & Co.

Coterra Energy (NYSE:CTRA) had its price objective trimmed by JPMorgan Chase & Co. from $35.00 to $34.00 in a research report released on Wednesday morning,MarketScreener reports. The firm currently has an overweight rating on the stock.

Other equities research analysts have also issued reports about the company. UBS Group reduced their price target on Coterra Energy from $30.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Coterra Energy in a research note on Wednesday, October 8th. Barclays dropped 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 note on Tuesday, October 7th. Piper Sandler decreased their price objective on shares of Coterra Energy from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Tuesday, October 21st. Finally, Siebert Williams Shank reduced their price target on Coterra Energy from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Seventeen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and an average price target of $32.43.

Coterra Energy Price Performance

Coterra Energy stock traded up $0.24 during mid-day trading on Wednesday, hitting $26.61. The company’s stock had a trading volume of 9,296,217 shares, compared to its average volume of 7,561,903. The stock’s fifty day moving average price is $23.92 and its two-hundred day moving average price is $24.46. The stock has a market capitalization of $20.30 billion, a P/E ratio of 12.73, a P/E/G ratio of 0.36 and a beta of 0.30. Coterra Energy has a twelve month low of $22.33 and a twelve month high of $29.95. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 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 $558.00 million for the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the business earned $0.32 EPS. The company’s quarterly revenue was up 33.7% on a year-over-year basis. Research analysts forecast that Coterra Energy will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Thursday, November 13th. Coterra Energy’s dividend payout ratio is presently 40.55%.

Hedge Funds Weigh In On Coterra Energy

A number of hedge funds and other institutional investors have recently modified their holdings of CTRA. Bogart Wealth LLC bought a new position in Coterra Energy in the 2nd quarter valued at $26,000. REAP Financial Group LLC grew its position in Coterra Energy by 190.1% during the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock valued at $28,000 after buying an additional 726 shares during the period. Banque Cantonale Vaudoise purchased a new stake in Coterra Energy during the first quarter worth about $29,000. Winnow Wealth LLC purchased a new stake in Coterra Energy during the third quarter worth about $29,000. Finally, Atlantic Union Bankshares Corp bought a new stake in Coterra Energy in the third quarter worth about $29,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.