Coterra Energy (NYSE:CTRA) Given New $29.00 Price Target at Morgan Stanley

Coterra Energy (NYSE:CTRA) had its price target boosted by Morgan Stanley from $27.00 to $29.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts have also issued reports on CTRA. Wolfe Research started coverage on shares of Coterra Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $35.00 target price for the company. UBS Group dropped their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Mizuho upped their price objective on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Truist Financial increased their price target on shares of Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Barclays increased their price target on shares of Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.24.

Coterra Energy Stock Up 0.4 %

Shares of Coterra Energy stock traded up $0.10 during trading on Thursday, reaching $25.53. 4,132,386 shares of the company traded hands, compared to its average volume of 6,236,401. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $28.90. The company has a 50 day moving average price of $23.86 and a 200-day moving average price of $25.50. The firm has a market capitalization of $18.81 billion, a PE ratio of 15.57, a P/E/G ratio of 1.67 and a beta of 0.22.

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

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s dividend payout ratio is 50.60%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fortitude Family Office LLC lifted its stake in Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after acquiring an additional 567 shares during the period. Larson Financial Group LLC lifted its position in Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after buying an additional 535 shares during the period. Values First Advisors Inc. purchased a new position in Coterra Energy during the third quarter valued at $57,000. Tobam purchased a new position in shares of Coterra Energy in the 3rd quarter worth about $63,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Coterra Energy by 31.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after purchasing an additional 557 shares during the last quarter. 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.