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

Coterra Energy (NYSE:CTRA) had its price target hoisted by Piper Sandler from $35.00 to $37.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

CTRA has been the subject of several other research reports. Morgan Stanley increased their price objective on shares of Coterra Energy from $26.00 to $29.00 and gave the company an equal weight rating in a research note on Wednesday. Mizuho reiterated a buy rating and issued a $34.00 price objective on shares of Coterra Energy in a research note on Wednesday, April 3rd. Bank of America upgraded shares of Coterra Energy from a neutral rating to a buy rating and set a $31.00 price objective for the company in a research note on Friday, January 5th. Susquehanna upgraded shares of Coterra Energy from a neutral rating to a positive rating and decreased their price objective for the company from $31.00 to $30.00 in a research note on Friday, January 26th. Finally, UBS Group increased their price objective on shares of Coterra Energy from $31.00 to $32.00 and gave the company a buy rating in a research note on Friday, March 1st. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Coterra Energy currently has a consensus rating of Moderate Buy and an average price target of $32.33.

Coterra Energy Trading Up 1.9 %

CTRA opened at $27.75 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18. Coterra Energy has a fifty-two week low of $22.91 and a fifty-two week high of $29.89. The firm has a market capitalization of $20.86 billion, a PE ratio of 12.97 and a beta of 0.21. The company’s 50-day moving average is $26.64 and its 200 day moving average is $26.37.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. As a group, research analysts predict that Coterra Energy will post 1.93 earnings per share for the current fiscal year.

Coterra Energy Increases Dividend

The firm also recently disclosed 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 was Wednesday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 3.03%. Coterra Energy’s dividend payout ratio (DPR) is 39.25%.

Insider Buying and Selling

In related 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 value of $364,840.00. Following the completion of the transaction, the vice president now directly owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related 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 value of $364,840.00. Following the completion of the transaction, the vice president now directly owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CTRA. Raymond James Financial Services Advisors Inc. bought a new position in Coterra Energy in the 1st quarter valued at $1,267,000. D.A. Davidson & CO. bought a new stake in shares of Coterra Energy during the 1st quarter worth $305,000. Yousif Capital Management LLC bought a new stake in shares of Coterra Energy during the 1st quarter worth $3,011,000. Raymond James Trust N.A. bought a new stake in shares of Coterra Energy during the 1st quarter worth $400,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in shares of Coterra Energy during the 1st quarter worth $3,218,000. 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.