Coterra Energy (NYSE:CTRA) Price Target Increased to $35.00 by Analysts at Scotiabank

Coterra Energy (NYSE:CTRA) had its target price hoisted by Scotiabank from $31.00 to $35.00 in a report released on Thursday morning, Benzinga reports. The firm currently has a sector outperform rating on the stock.

Several other equities analysts also recently issued reports on CTRA. Barclays started coverage on shares of Coterra Energy in a report on Wednesday, April 10th. They set an overweight rating and a $36.00 price objective on the stock. Truist Financial cut their price target on shares of Coterra Energy from $30.00 to $27.00 and set a hold rating on the stock in a report on Friday, April 5th. Morgan Stanley cut their price target on shares of Coterra Energy from $27.00 to $26.00 and set an equal weight rating on the stock in a report on Thursday, March 28th. Stifel Nicolaus cut their price target on shares of Coterra Energy from $33.00 to $31.00 and set a buy rating on the stock in a report on Friday, March 22nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Coterra Energy from $29.00 to $30.00 and gave the stock an overweight rating in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $32.00.

Coterra Energy Stock Performance

CTRA opened at $27.64 on Thursday. Coterra Energy has a 52-week low of $22.91 and a 52-week 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. The company has a market cap of $20.78 billion, a P/E ratio of 12.92 and a beta of 0.21. The firm’s 50-day moving average price is $26.41 and its 200-day moving average price is $26.36.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data 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). Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.54 billion. As a group, equities analysts anticipate that Coterra Energy will post 1.95 EPS for the current fiscal year.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.04%. The ex-dividend date was Wednesday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s dividend payout ratio is currently 39.25%.

Insiders Place Their Bets

In other news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was 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 owns 176,758 shares in the company, valued at approximately $4,783,071.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was 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 owns 176,758 shares in the company, valued at approximately $4,783,071.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $26.06, for a total value 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. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CTRA. Raymond James Financial Services Advisors Inc. acquired a new position in Coterra Energy in the 1st quarter valued at $1,267,000. D.A. Davidson & CO. acquired a new position in Coterra Energy in the 1st quarter valued at $305,000. Yousif Capital Management LLC acquired a new position in Coterra Energy in the 1st quarter valued at $3,011,000. Raymond James Trust N.A. acquired a new position in Coterra Energy in the 1st quarter valued at $400,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in Coterra Energy in the 1st quarter valued at $3,218,000. 87.92% of the stock is owned by institutional investors and hedge funds.

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.