Coterra Energy Inc. (NYSE:CTRA) Receives $34.29 Average Target Price from Brokerages

Coterra Energy Inc. (NYSE:CTRA) has been assigned an average rating of “Moderate Buy” from the twenty-two research firms that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $34.10.

A number of research firms have recently issued reports on CTRA. Barclays lifted their price objective on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Citigroup lifted their price objective on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Mizuho lifted their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Williams Trading set a $37.00 price objective on shares of Coterra Energy in a report on Wednesday, March 5th. Finally, Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and boosted their price target for the stock from $34.00 to $37.00 in a research note on Wednesday.

Coterra Energy Stock Performance

NYSE CTRA opened at $27.66 on Thursday. Coterra Energy has a 52-week low of $22.30 and a 52-week high of $29.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company has a market capitalization of $21.13 billion, a P/E ratio of 16.66, a P/E/G ratio of 0.59 and a beta of 0.26. The company has a fifty day moving average of $27.75 and a 200-day moving average of $25.67.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.18%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is currently 58.28%.

Insider Activity at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the transaction, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. The trade was a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coterra Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its holdings in Coterra Energy by 1.9% in the fourth quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company’s stock worth $1,852,385,000 after purchasing an additional 1,318,754 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Coterra Energy by 5.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock worth $599,356,000 after purchasing an additional 1,310,965 shares during the period. Geode Capital Management LLC grew its holdings in Coterra Energy by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company’s stock worth $486,528,000 after purchasing an additional 96,059 shares during the period. Victory Capital Management Inc. grew its holdings in Coterra Energy by 5.0% in the fourth quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company’s stock worth $454,834,000 after purchasing an additional 845,609 shares during the period. Finally, Invesco Ltd. grew its holdings in Coterra Energy by 9.0% in the fourth quarter. Invesco Ltd. now owns 12,232,484 shares of the company’s stock worth $312,418,000 after purchasing an additional 1,011,166 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Company Profile

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.