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

Piper Sandler reiterated their overweight rating on shares of Coterra Energy (NYSE:CTRA) in a report issued on Monday morning, Benzinga reports. They currently have a $32.00 price objective on the stock, up from their prior price objective of $31.00.

CTRA has been the topic of a number of other reports. UBS Group lowered their price objective on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Stephens upped their price target on shares of Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Susquehanna decreased their price objective on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Finally, Scotiabank decreased their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.29.

Coterra Energy Stock Performance

CTRA opened at $24.55 on Monday. The company’s 50 day moving average is $23.76 and its 200 day moving average is $25.61. The company has a current ratio of 1.61, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. The company has a market cap of $18.08 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 1.40 and a beta of 0.22. Coterra Energy has a 12-month low of $22.30 and a 12-month high of $28.90.

Coterra Energy (NYSE:CTRA) last issued 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). 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 for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the business earned $0.47 EPS. The company’s revenue was up .2% compared to the same quarter last year. On average, equities research analysts predict that Coterra Energy will post 1.62 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s dividend payout ratio is 50.60%.

Institutional Investors Weigh In On Coterra Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC raised its stake in shares of Coterra Energy by 154.9% in 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 during the period. Larson Financial Group LLC grew its holdings in 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 during the last quarter. Central Pacific Bank Trust Division purchased a new stake in Coterra Energy in the 1st quarter worth about $44,000. EverSource Wealth Advisors LLC lifted its stake in Coterra Energy by 31.0% in the first 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. Finally, Values First Advisors Inc. purchased a new position in shares of Coterra Energy during the third quarter valued at approximately $57,000. 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.