Morgan Stanley Raises Coterra Energy (NYSE:CTRA) Price Target to $29.00

Coterra Energy (NYSE:CTRA - Free Report) had its target price raised by Morgan Stanley from $26.00 to $29.00 in a research report released on Wednesday, Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also recently issued reports on CTRA. Stifel Nicolaus reduced their price target on shares of Coterra Energy from $33.00 to $31.00 and set a buy rating on the stock in a research report on Friday, March 22nd. Susquehanna raised shares of Coterra Energy from a neutral rating to a positive rating and reduced their target price for the company from $31.00 to $30.00 in a report on Friday, January 26th. Piper Sandler raised their target price on shares of Coterra Energy from $33.00 to $35.00 and gave the company an overweight rating in a report on Thursday, March 7th. Stephens reaffirmed an overweight rating and issued a $39.00 target price on shares of Coterra Energy in a report on Tuesday, January 23rd. Finally, Barclays assumed coverage on shares of Coterra Energy in a report on Wednesday, April 10th. They issued an overweight rating and a $36.00 target price on the stock. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Coterra Energy has an average rating of Moderate Buy and an average target price of $32.20.

Coterra Energy Trading Up 0.1 %

CTRA traded up $0.02 on Wednesday, hitting $27.22. The company had a trading volume of 5,466,169 shares, compared to its average volume of 6,945,839. The firm has a market cap of $20.46 billion, a P/E ratio of 12.72 and a beta of 0.21. Coterra Energy has a 1 year low of $22.91 and a 1 year high of $29.89. The company's fifty day moving average price is $26.59 and its 200 day moving average price is $26.37. 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 - Get Free Report) last issued 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 business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.54 billion. Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. As a group, equities analysts expect that Coterra Energy will post 1.92 earnings per share for the current year.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.21 per share. The ex-dividend date was Wednesday, March 13th. This is a positive change from Coterra Energy's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.09%. Coterra Energy's dividend payout ratio (DPR) is 39.25%.

Insider Transactions at Coterra Energy

In other 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 transaction of $364,840.00. Following the transaction, the vice president now directly owns 93,988 shares in the company, valued at $2,449,327.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Todd M. Roemer sold 55,000 shares of the firm'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 transaction, the chief accounting officer now directly owns 176,758 shares in the company, valued at $4,783,071.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of the firm'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 transaction, the vice president now 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.

Hedge Funds Weigh In On Coterra Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. ICA Group Wealth Management LLC purchased a new position in Coterra Energy in the 4th quarter valued at $25,000. SouthState Corp grew its position in Coterra Energy by 75.4% in 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 during the last quarter. Quarry LP grew its position in Coterra Energy by 157.4% in the 4th quarter. Quarry LP now owns 1,063 shares of the company's stock valued at $27,000 after buying an additional 650 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new position in Coterra Energy in the 4th quarter valued at $33,000. Finally, VisionPoint Advisory Group LLC grew its position in Coterra Energy by 133.3% in 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 during the last quarter. 87.92% of the stock is currently owned by hedge funds and other 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.