Coterra Energy (NYSE:CTRA) Price Target Raised to $37.00

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

Other research analysts also recently issued reports about the company. Raymond James increased their target price on shares of Coterra Energy from $32.00 to $34.00 and gave the stock an outperform rating in a report on Wednesday, January 24th. Truist Financial reduced their price objective on shares of Coterra Energy from $30.00 to $27.00 and set a hold rating for the company in a research note on Friday, April 5th. Bank of America upgraded shares of Coterra Energy from a neutral rating to a buy rating and set a $31.00 target price on the stock in a research note on Friday, January 5th. JPMorgan Chase & Co. increased their price target on Coterra Energy from $29.00 to $30.00 and gave the stock an overweight rating in a research note on Thursday, April 4th. Finally, Mizuho restated a buy rating and issued a $34.00 price objective on shares of Coterra Energy in a research report on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $32.33.

Coterra Energy Stock Performance

CTRA traded up $0.53 during trading on Friday, hitting $27.75. The company's stock had a trading volume of 7,173,189 shares, compared to its average volume of 6,915,457. The business's 50 day simple moving average is $26.64 and its 200-day simple moving average is $26.37. The firm has a market cap of $20.86 billion, a PE ratio of 12.97 and a beta of 0.21. Coterra Energy has a one year low of $22.91 and a one year high of $29.89. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.06). The company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.54 billion. Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. As a group, sell-side analysts predict that Coterra Energy will post 1.93 EPS for the current fiscal year.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.21 dividend. The ex-dividend date of this dividend 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 3.03%. Coterra Energy's dividend payout ratio (DPR) is 39.25%.

Insider Buying and Selling

In other news, VP Michael D. Deshazer sold 14,000 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the sale, the vice president now directly owns 93,988 shares in the company, valued at approximately $2,449,327.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Todd M. Roemer sold 55,000 shares of the firm's stock in a transaction on 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 sale, 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 filing with the SEC, which can be accessed through this link. Also, VP Michael D. Deshazer sold 14,000 shares of the business's stock in a transaction 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 owns 93,988 shares in the company, valued at approximately $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coterra Energy

A number of large investors have recently made changes to their positions in CTRA. Van ECK Associates Corp boosted its holdings in Coterra Energy by 2.1% during the 3rd quarter. Van ECK Associates Corp now owns 113,399 shares of the company's stock valued at $3,068,000 after acquiring an additional 2,376 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Coterra Energy in the 3rd quarter worth about $1,461,000. HITE Hedge Asset Management LLC bought a new stake in Coterra Energy during the 4th quarter valued at about $11,485,000. Nordea Investment Management AB boosted its position in Coterra Energy by 3.9% in the 3rd quarter. Nordea Investment Management AB now owns 803,979 shares of the company's stock valued at $21,844,000 after buying an additional 30,237 shares during the period. Finally, Pinnacle Associates Ltd. grew its stake in Coterra Energy by 5.3% in the 4th quarter. Pinnacle Associates Ltd. now owns 13,443 shares of the company's stock worth $343,000 after acquiring an additional 679 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other 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.