Truist Financial Lowers Coterra Energy (NYSE:CTRA) Price Target to $34.00

Coterra Energy (NYSE:CTRA) had its price objective lowered by Truist Financial from $35.00 to $34.00 in a report issued on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also issued reports on the company. Barclays initiated 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. Morgan Stanley increased their price objective on Coterra Energy from $26.00 to $29.00 and gave the stock an equal weight rating in a report on Wednesday, April 17th. Bank of America reissued a buy rating and issued a $34.00 price objective on shares of Coterra Energy in a report on Friday, June 14th. Citigroup increased their price objective on Coterra Energy from $30.00 to $31.00 and gave the stock a buy rating in a report on Friday, May 24th. Finally, JPMorgan Chase & Co. increased their price target on Coterra Energy from $29.00 to $30.00 and gave the company an overweight rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Coterra Energy has a consensus rating of Moderate Buy and a consensus target price of $33.94.

Coterra Energy Stock Down 0.2 %

Shares of Coterra Energy stock opened at $25.73 on Monday. The company has a current ratio of 1.49, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The business’s 50 day simple moving average is $27.19 and its 200-day simple moving average is $26.72. The stock has a market capitalization of $19.15 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.18 and a beta of 0.24. Coterra Energy has a twelve month low of $23.73 and a twelve month high of $29.89.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Equities research analysts forecast that Coterra Energy will post 2.04 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Wednesday, May 15th. Coterra Energy’s dividend payout ratio is presently 48.55%.

Institutional Investors Weigh In On Coterra Energy

Large investors have recently modified their holdings of the stock. Fortitude Family Office LLC boosted its stake in shares of Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after acquiring an additional 567 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of Coterra Energy during the 4th quarter worth $33,000. Tennessee Valley Asset Management Partners bought a new stake in shares of Coterra Energy during the 4th quarter worth $33,000. Headlands Technologies LLC lifted its holdings in shares of Coterra Energy by 397.7% in the fourth quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock valued at $44,000 after purchasing an additional 1,392 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Coterra Energy in the first quarter valued at $44,000. 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.