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

Coterra Energy (NYSE:CTRA) had its price objective increased by Mizuho from $34.00 to $37.00 in a report issued on Friday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently weighed in on CTRA. Piper Sandler raised their price objective on Coterra Energy from $35.00 to $37.00 and gave the company an overweight rating in a research note on Friday, April 19th. UBS Group upped their price objective on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a buy rating in a report on Friday, March 1st. Stephens reiterated an overweight rating and issued a $39.00 target price on shares of Coterra Energy in a report on Tuesday, January 23rd. Susquehanna raised their price target on Coterra Energy from $30.00 to $32.00 and gave the company a positive rating in a research report on Monday, April 22nd. Finally, Scotiabank increased their target price on Coterra Energy from $31.00 to $35.00 and gave the company a sector outperform rating in a research note on Thursday, April 11th. Two equities 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, Coterra Energy currently has a consensus rating of Moderate Buy and a consensus price target of $32.67.

Coterra Energy Stock Performance

CTRA stock opened at $28.34 on Friday. The firm has a 50 day moving average of $27.35 and a two-hundred day moving average of $26.35. Coterra Energy has a 12 month low of $22.91 and a 12 month high of $29.89. The company has a market capitalization of $21.31 billion, a price-to-earnings ratio of 16.38 and a beta of 0.22. The company has a quick ratio of 1.18, a current ratio of 0.89 and a debt-to-equity ratio of 0.20.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. As a group, equities analysts anticipate that Coterra Energy will post 1.82 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Wednesday, May 15th. Coterra Energy’s dividend payout ratio is currently 48.55%.

Insider Transactions at Coterra Energy

In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the sale, the vice president now owns 93,988 shares in the company, valued at approximately $2,449,327.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $4,783,071.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the sale, the vice president now owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. SouthState Corp boosted its stake in Coterra Energy by 75.4% in the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after acquiring an additional 454 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new position in shares of Coterra Energy in the 4th quarter worth $33,000. VisionPoint Advisory Group LLC grew its stake in shares of Coterra Energy by 133.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after purchasing an additional 740 shares during the period. Wetzel Investment Advisors Inc. bought a new stake in Coterra Energy in the fourth quarter valued at about $33,000. Finally, Central Pacific Bank Trust Division acquired a new position in Coterra Energy in the first quarter valued at about $44,000. Institutional investors own 87.92% of the company’s stock.

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.