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

Coterra Energy (NYSE:CTRA - Free Report) had its target price hoisted by Barclays from $35.00 to $37.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts also recently weighed in on CTRA. The Goldman Sachs Group restated a "neutral" rating and issued a $31.00 price target on shares of Coterra Energy in a research note on Tuesday, July 1st. Piper Sandler cut their price target on Coterra Energy from $37.00 to $36.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. JPMorgan Chase & Co. cut their price target on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Johnson Rice raised Coterra Energy from a "hold" rating to an "accumulate" rating and upped their price objective for the company from $34.00 to $37.00 in a research report on Wednesday, March 12th. Finally, Raymond James Financial set a $38.00 price objective on Coterra Energy and gave the company an "outperform" rating in a research report on Friday, June 13th. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Coterra Energy currently has a consensus rating of "Moderate Buy" and an average price target of $33.10.

Coterra Energy Stock Up 1.6%

Shares of CTRA stock traded up $0.39 during midday trading on Monday, reaching $25.21. 4,902,134 shares of the stock were exchanged, compared to its average volume of 6,507,139. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $29.95. The company's 50 day moving average is $25.18 and its two-hundred day moving average is $26.45. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The firm has a market cap of $19.24 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 0.34 and a beta of 0.35.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.09. The company had revenue of $924.00 million for the quarter, compared to the consensus estimate of $1.92 billion. Coterra Energy had a return on equity of 10.61% and a net margin of 21.67%. The firm's quarterly revenue was up 32.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 EPS. On average, equities research analysts predict that Coterra Energy will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.88 annualized dividend and a dividend yield of 3.49%. Coterra Energy's payout ratio is 51.16%.

Hedge Funds Weigh In On Coterra Energy

A number of institutional investors have recently bought and sold shares of the stock. Wesbanco Bank Inc. bought a new stake in Coterra Energy during the second quarter valued at about $350,000. City Center Advisors LLC bought a new stake in Coterra Energy during the second quarter valued at about $201,000. Voya Investment Management LLC grew its holdings in Coterra Energy by 75.7% during the first quarter. Voya Investment Management LLC now owns 1,349,693 shares of the company's stock valued at $39,006,000 after purchasing an additional 581,612 shares during the period. Inspire Investing LLC grew its holdings in Coterra Energy by 7.8% during the first quarter. Inspire Investing LLC now owns 11,096 shares of the company's stock valued at $321,000 after purchasing an additional 804 shares during the period. Finally, Strs Ohio bought a new stake in Coterra Energy during the first quarter valued at about $1,600,000. 87.92% of the stock is owned by institutional investors.

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.