Truist Financial Issues Positive Forecast for Coterra Energy (NYSE:CTRA) Stock Price

Coterra Energy (NYSE:CTRA) had its target price upped by Truist Financial from $31.00 to $33.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also recently weighed in on CTRA. UBS Group reduced their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Susquehanna raised their target price on shares of Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday. Piper Sandler raised their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday. Morgan Stanley reduced their target price on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Finally, Wells Fargo & Company decreased their price objective on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $32.24.

Coterra Energy Stock Performance

Shares of NYSE:CTRA traded up $0.10 during trading hours on Thursday, hitting $25.53. The stock had a trading volume of 4,132,386 shares, compared to its average volume of 6,236,401. The stock’s fifty day simple moving average is $23.86 and its 200 day simple moving average is $25.50. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $28.90. The firm has a market capitalization of $18.81 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 1.67 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

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

Coterra Energy Dividend Announcement

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

Institutional Trading of Coterra Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fortitude Family Office LLC grew its position in Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares during the last quarter. Larson Financial Group LLC grew its position in Coterra Energy by 98.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after purchasing an additional 535 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in 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. Values First Advisors Inc. acquired a new stake in Coterra Energy in the 3rd quarter worth $57,000. Finally, Family Firm Inc. acquired a new stake in shares of Coterra Energy during the 2nd quarter valued at about $68,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

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.