Coterra Energy (NYSE:CTRA) Price Target Increased to $29.00 by Analysts at Morgan Stanley

Coterra Energy (NYSE:CTRA) had its price objective boosted by Morgan Stanley from $26.00 to $29.00 in a report issued on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research firms have also recently commented on CTRA. Mizuho reiterated a buy rating and set a $34.00 price target on shares of Coterra Energy in a report on Wednesday, April 3rd. Barclays assumed coverage on Coterra Energy in a report on Wednesday, April 10th. They set an overweight rating and a $36.00 price objective for the company. UBS Group boosted their price target on Coterra Energy from $31.00 to $32.00 and gave the company a buy rating in a research note on Friday, March 1st. Susquehanna upgraded Coterra Energy from a neutral rating to a positive rating and cut their price target for the company from $31.00 to $30.00 in a research note on Friday, January 26th. Finally, Stephens reiterated an overweight rating and issued a $39.00 price target on shares of Coterra Energy in a research note on Tuesday, January 23rd. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $32.20.

Coterra Energy Stock Performance

CTRA stock opened at $27.22 on Wednesday. The business’s 50-day moving average price is $26.59 and its two-hundred day moving average price is $26.37. Coterra Energy has a 1-year low of $22.91 and a 1-year high of $29.89. The firm has a market cap of $20.46 billion, a PE ratio of 12.72 and a beta of 0.21. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.06). The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. As a group, research analysts forecast that Coterra Energy will post 1.92 earnings per share for the current year.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.21 per share. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.84 annualized dividend and a dividend yield of 3.09%. Coterra Energy’s dividend payout ratio (DPR) is 39.25%.

Insiders Place Their Bets

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the sale, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the sale, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the sale, the vice president now directly owns 93,988 shares in the company, valued at $2,449,327.28. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CTRA. Vanguard Group Inc. acquired a new position in shares of Coterra Energy in the 1st quarter worth approximately $2,472,575,000. State Street Corp acquired a new position in shares of Coterra Energy during the 1st quarter valued at $1,493,855,000. Northern Trust Corp acquired a new position in shares of Coterra Energy during the 1st quarter valued at $300,998,000. Invesco Ltd. acquired a new position in shares of Coterra Energy during the 1st quarter valued at $169,781,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of Coterra Energy during the 1st quarter valued at $151,999,000. Institutional investors and hedge funds 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.