Coterra Energy’s (CTRA) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Coterra Energy (NYSE:CTRA) in a research report report published on Monday morning, Benzinga reports. The firm currently has a $32.00 price objective on the stock, up from their prior price objective of $31.00.

Other research analysts also recently issued reports about the company. Barclays cut their price target on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Morgan Stanley reduced their target price on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Truist Financial decreased their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Stephens boosted their price objective on shares of Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Wells Fargo & Company lowered their target price on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.29.

Coterra Energy Stock Performance

CTRA stock opened at $23.19 on Monday. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $28.90. The business has a 50-day moving average price of $23.77 and a 200 day moving average price of $25.65. The company has a market capitalization of $17.14 billion, a P/E ratio of 13.90, a PEG ratio of 1.40 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.38.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. Coterra Energy’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 EPS. As a group, equities research analysts forecast that Coterra Energy will post 1.62 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.62%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Hedge Funds Weigh In On Coterra Energy

Institutional investors have recently modified their holdings of the stock. Fortitude Family Office LLC raised its position in Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after purchasing an additional 535 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Coterra Energy in the 1st quarter valued at $44,000. EverSource Wealth Advisors LLC boosted its holdings in Coterra Energy by 31.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after buying an additional 557 shares in the last quarter. Finally, Values First Advisors Inc. acquired a new stake in Coterra Energy during the third quarter valued at $57,000. Hedge funds and other 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.