Barclays Forecasts Strong Price Appreciation for Coterra Energy (NYSE:CTRA) Stock

Coterra Energy (NYSE:CTRAFree Report) had its price target lifted by Barclays from $31.00 to $33.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also commented on the company. Wolfe Research started coverage on Coterra Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price objective on the stock. Truist Financial reduced their price target on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Morgan Stanley reduced their target price on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Finally, Mizuho raised their price target on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $32.41.

View Our Latest Stock Report on Coterra Energy

Coterra Energy Stock Up 0.6 %

Shares of NYSE CTRA opened at $25.58 on Thursday. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $23.95 and a 200 day moving average price of $25.46. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $28.90. The stock has a market capitalization of $18.84 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22.

Coterra Energy (NYSE:CTRAGet Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the company earned $0.47 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts anticipate that Coterra Energy will post 1.53 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is currently 50.60%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in Coterra Energy by 0.7% during the third quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock worth $453,628,000 after acquiring an additional 128,397 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its position in shares of Coterra Energy by 5.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock valued at $128,085,000 after acquiring an additional 284,106 shares during the period. M&T Bank Corp increased its stake in shares of Coterra Energy by 2.1% during the 3rd quarter. M&T Bank Corp now owns 311,092 shares of the company’s stock worth $7,451,000 after purchasing an additional 6,321 shares during the last quarter. Barclays PLC raised its holdings in shares of Coterra Energy by 3.1% in the 3rd quarter. Barclays PLC now owns 2,147,263 shares of the company’s stock valued at $51,425,000 after purchasing an additional 64,753 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Coterra Energy by 0.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,221,403 shares of the company’s stock valued at $29,253,000 after purchasing an additional 6,938 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Company Profile

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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.

Further Reading

Analyst Recommendations for Coterra Energy (NYSE:CTRA)

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