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

Coterra Energy (NYSE:CTRA - Free Report) had its price target raised by Truist Financial from $31.00 to $33.00 in a report published on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on CTRA. JPMorgan Chase & Co. decreased their target price on shares of Coterra Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a research note on Thursday, September 12th. Barclays upped their target price on Coterra Energy from $31.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday. Roth Capital raised shares of Coterra Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 27th. Mizuho lifted their price objective on shares of Coterra Energy from $36.00 to $37.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Wolfe Research began coverage on shares of Coterra Energy in a research report on Thursday, July 18th. They set an "outperform" rating and a $35.00 target price on the stock. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $32.00.

Coterra Energy Price Performance

NYSE:CTRA traded up $0.03 during midday trading on Thursday, hitting $25.44. 5,876,507 shares of the stock were exchanged, compared to its average volume of 6,244,345. The company has a market capitalization of $18.74 billion, a price-to-earnings ratio of 15.32, a P/E/G ratio of 1.64 and a beta of 0.22. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy has a one year low of $22.30 and a one year high of $28.90. The business has a 50-day moving average price of $23.86 and a two-hundred day moving average price of $25.50.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted 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). The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 EPS. Sell-side analysts predict that Coterra Energy will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be issued 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 3.30%. Coterra Energy's payout ratio is 50.60%.

Institutional Trading of Coterra Energy

Several institutional investors have recently added to or reduced their stakes in CTRA. Fortitude Family Office LLC increased its stake in Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company's stock valued at $25,000 after purchasing an additional 567 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company's stock valued at $29,000 after acquiring an additional 535 shares in the last quarter. Values First Advisors Inc. acquired a new position in shares of Coterra Energy during the third quarter worth approximately $57,000. Tobam acquired a new stake in Coterra Energy in the 3rd quarter valued at $63,000. Finally, EverSource Wealth Advisors LLC increased its stake in Coterra Energy by 31.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company's stock valued at $64,000 after purchasing an additional 557 shares in the last quarter. 87.92% of the stock is currently 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.