Susquehanna Increases Coterra Energy (NYSE:CTRA) Price Target to $33.00

Coterra Energy (NYSE:CTRA) had its price objective upped by Susquehanna from $32.00 to $33.00 in a report published on Tuesday morning, Benzinga reports. They currently have a positive rating on the stock.

A number of other brokerages have also recently issued reports on CTRA. Stephens reaffirmed an overweight rating and issued a $39.00 price objective on shares of Coterra Energy in a research note on Tuesday, January 23rd. Morgan Stanley raised their price objective on Coterra Energy from $26.00 to $29.00 and gave the company an equal weight rating in a research note on Wednesday, April 17th. Barclays assumed coverage on Coterra Energy in a research note on Wednesday, April 10th. They issued an overweight rating and a $36.00 target price for the company. Raymond James lifted their price target on Coterra Energy from $32.00 to $34.00 and gave the stock an outperform rating in a research note on Wednesday, January 24th. Finally, Scotiabank increased their price objective 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 investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $32.73.

Coterra Energy Stock Performance

NYSE CTRA opened at $28.08 on Tuesday. Coterra Energy has a 52-week low of $22.91 and a 52-week high of $29.89. The company has a fifty day moving average of $27.39 and a 200-day moving average of $26.34. The company has a market capitalization of $21.11 billion, a P/E ratio of 16.23 and a beta of 0.22. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.18 and a current ratio of 0.89.

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

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors 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 2.99%. The ex-dividend date of this dividend is Wednesday, May 15th. Coterra Energy’s payout ratio is currently 48.55%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the firm’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 completion of 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 accessible through this link. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction that occurred 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 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 through the SEC website. Also, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction that occurred on Friday, March 1st. The shares were 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 $2,449,327.28. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors have recently modified their holdings of CTRA. Commonwealth Equity Services LLC raised its stake in shares of Coterra Energy by 18.8% in the third quarter. Commonwealth Equity Services LLC now owns 218,119 shares of the company’s stock worth $5,900,000 after purchasing an additional 34,479 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Coterra Energy by 29.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 178,109 shares of the company’s stock worth $4,818,000 after buying an additional 40,446 shares during the last quarter. Brown Advisory Inc. lifted its stake in Coterra Energy by 34.0% during the 3rd quarter. Brown Advisory Inc. now owns 14,845 shares of the company’s stock valued at $402,000 after acquiring an additional 3,769 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Coterra Energy by 1.7% during the 3rd quarter. Mackenzie Financial Corp now owns 75,270 shares of the company’s stock valued at $1,983,000 after acquiring an additional 1,274 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Coterra Energy by 7.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 760,821 shares of the company’s stock worth $20,580,000 after acquiring an additional 54,316 shares during the period. 87.92% of the stock is owned by hedge funds and other 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.