Coterra Energy’s (CTRA) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Coterra Energy (NYSE:CTRA) in a research note released on Monday,Benzinga reports. Piper Sandler currently has a $32.00 price objective on the stock, up from their previous price objective of $31.00.

Other equities analysts also recently issued research reports about the company. Scotiabank decreased their target price on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company cut their target price on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Mizuho boosted their target price on Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Susquehanna dropped their price target on Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.29.

Coterra Energy Price Performance

CTRA opened at $24.41 on Monday. The company has a quick ratio of 1.38, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average of $23.76 and a 200 day moving average of $25.60. The stock has a market cap of $17.98 billion, a P/E ratio of 14.70, a PEG ratio of 1.42 and a beta of 0.22. Coterra Energy has a 52-week low of $22.30 and a 52-week high of $28.90.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 earnings per share. As a group, sell-side analysts anticipate that Coterra Energy will post 1.62 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be given a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.44%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Hedge Funds Weigh In On Coterra Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Coterra Energy in the 1st quarter valued at $656,000. Quadrature Capital Ltd increased its stake in Coterra Energy by 112.2% in the 1st quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock valued at $2,018,000 after buying an additional 38,278 shares during the last quarter. CreativeOne Wealth LLC increased its stake in Coterra Energy by 130.3% in the 1st quarter. CreativeOne Wealth LLC now owns 56,860 shares of the company’s stock valued at $1,586,000 after buying an additional 32,173 shares during the last quarter. Raymond James & Associates increased its stake in Coterra Energy by 5.0% in the 2nd quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after buying an additional 56,748 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its position in shares of Coterra Energy by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after acquiring an additional 51,249 shares during the period. 87.92% of the stock is owned by 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.