Piper Sandler Raises Coterra Energy (NYSE:CTRA) Price Target to $37.00

Coterra Energy (NYSE:CTRA) had its target price upped by Piper Sandler from $35.00 to $37.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other analysts have also issued research reports about the company. Stephens reaffirmed an overweight rating and issued a $39.00 price target on shares of Coterra Energy in a research note on Tuesday, January 23rd. Truist Financial dropped their price target on Coterra Energy from $30.00 to $27.00 and set a hold rating for the company in a research note on Friday, April 5th. Barclays assumed coverage on Coterra Energy in a report on Wednesday, April 10th. They issued an overweight rating and a $36.00 price objective for the company. Scotiabank increased their price objective on Coterra Energy from $31.00 to $35.00 and gave the stock a sector outperform rating in a report on Thursday, April 11th. Finally, Bank of America upgraded Coterra Energy from a neutral rating to a buy rating and set a $31.00 price objective for the company in a report on Friday, January 5th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $32.47.

Coterra Energy Stock Performance

NYSE:CTRA opened at $27.95 on Friday. The firm has a market cap of $21.01 billion, a PE ratio of 13.06 and a beta of 0.21. Coterra Energy has a fifty-two week low of $22.91 and a fifty-two week high of $29.89. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21. The business has a 50 day moving average price of $26.71 and a 200-day moving average price of $26.39.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Equities research analysts predict that Coterra Energy will post 1.93 earnings per share for the current year.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.01%. 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. Coterra Energy’s dividend payout ratio (DPR) is presently 39.25%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors and hedge funds have recently bought and sold shares of CTRA. SouthState Corp grew its holdings in Coterra Energy by 75.4% during the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after buying an additional 454 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in Coterra Energy during the 4th quarter valued at approximately $33,000. Tennessee Valley Asset Management Partners purchased a new stake in Coterra Energy during the 4th quarter valued at approximately $33,000. VisionPoint Advisory Group LLC grew its holdings in Coterra Energy by 133.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock valued at $35,000 after buying an additional 740 shares in the last quarter. Finally, Headlands Technologies LLC grew its holdings in Coterra Energy by 397.7% during the 4th quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock valued at $44,000 after buying an additional 1,392 shares in the last quarter. 87.92% of the stock is owned by 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.