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

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

A number of other research analysts have also recently weighed in on CTRA. Raymond James lifted their price objective on Coterra Energy from $32.00 to $34.00 and gave the company an outperform rating in a research report on Wednesday, January 24th. Morgan Stanley boosted their price target on Coterra Energy from $26.00 to $29.00 and gave the stock an equal weight rating in a report on Wednesday, April 17th. Scotiabank boosted their price target on Coterra Energy from $31.00 to $35.00 and gave the stock a sector outperform rating in a report on Thursday, April 11th. Piper Sandler boosted their price target on Coterra Energy from $35.00 to $37.00 and gave the stock an overweight rating in a report on Friday, April 19th. Finally, Stifel Nicolaus lowered their price target on Coterra Energy from $33.00 to $31.00 and set a buy rating on the stock in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $32.67.

Coterra Energy Stock Performance

Shares of Coterra Energy stock traded up $1.03 during trading hours on Friday, reaching $28.19. 11,386,229 shares of the stock traded hands, compared to its average volume of 5,764,794. 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. The firm has a market capitalization of $21.19 billion, a price-to-earnings ratio of 16.29 and a beta of 0.22. The company has a 50 day moving average price of $27.30 and a 200 day moving average price of $26.40.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data 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 net margin of 23.34% and a return on equity of 10.80%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. On average, equities research analysts expect that Coterra Energy will post 1.82 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Wednesday, May 15th. Coterra Energy’s dividend payout ratio is currently 48.55%.

Insider Activity

In other news, CAO Todd M. Roemer sold 55,000 shares of the business’s 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 of the company’s stock, valued at approximately $4,783,071.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was 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 of the company’s stock, valued at approximately $2,449,327.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the transaction, the chief accounting officer now directly owns 176,758 shares in the company, valued at approximately $4,783,071.48. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Coterra Energy

Several hedge funds have recently bought and sold shares of CTRA. Significant Wealth Partners LLC purchased a new stake in shares of Coterra Energy in the 4th quarter worth $1,604,000. Van ECK Associates Corp lifted its stake in shares of Coterra Energy by 2.1% during the 3rd quarter. Van ECK Associates Corp now owns 113,399 shares of the company’s stock worth $3,068,000 after purchasing an additional 2,376 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Coterra Energy during the 3rd quarter worth $1,461,000. HITE Hedge Asset Management LLC purchased a new stake in shares of Coterra Energy during the 4th quarter worth $11,485,000. Finally, Nordea Investment Management AB raised its stake in Coterra Energy by 3.9% in the third 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 last quarter. 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.