Mizuho Cuts Coterra Energy (NYSE:CTRA) Price Target to $33.00

by · The Cerbat Gem

Coterra Energy (NYSE:CTRA – Free Report) had its price target lowered by Mizuho from $36.00 to $33.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research firms have also issued reports on CTRA. Barclays boosted their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, July 7th. Piper Sandler boosted their price objective on Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Scotiabank restated an “outperform” rating on shares of Coterra Energy in a research report on Friday, July 11th. Raymond James Financial reaffirmed an “outperform” rating and set a $34.00 target price (down previously from $38.00) on shares of Coterra Energy in a research note on Thursday, September 11th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $31.00 price target on shares of Coterra Energy in a research note on Tuesday, July 1st. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.22.

Get Our Latest Analysis on CTRA

Coterra Energy Price Performance

Coterra Energy stock opened at $24.38 on Monday. The stock’s 50 day moving average is $24.10 and its 200 day moving average is $25.27. Coterra Energy has a one year low of $22.46 and a one year high of $29.95. The firm has a market cap of $18.61 billion, a P/E ratio of 11.67, a P/E/G ratio of 0.35 and a beta of 0.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08.

Coterra Energy (NYSE:CTRA – Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). The firm had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The firm’s revenue for the quarter was up 54.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 EPS. As a group, research analysts expect that Coterra Energy will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a $0.22 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.88 annualized dividend and a yield of 3.6%. Coterra Energy’s dividend payout ratio (DPR) is 42.11%.

Hedge Funds Weigh In On Coterra Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cornerstone Planning Group LLC increased its position in shares of Coterra Energy by 175.6% during the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock valued at $25,000 after acquiring an additional 555 shares during the last quarter. Raleigh Capital Management Inc. grew its stake in Coterra Energy by 463.5% in the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock valued at $26,000 after purchasing an additional 737 shares during the period. Banque Cantonale Vaudoise purchased a new stake in shares of Coterra Energy during the 1st quarter valued at $29,000. Bogart Wealth LLC bought a new stake in shares of Coterra Energy during the 2nd quarter worth $26,000. Finally, REAP Financial Group LLC raised its stake in shares of Coterra Energy by 190.1% during the 2nd quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock worth $28,000 after purchasing an additional 726 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

About Coterra Energy

(Get Free Report)

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.

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