Coterra Energy (NYSE:CTRA) Given New $33.00 Price Target at JPMorgan Chase & Co.

Coterra Energy (NYSE:CTRA) had its price objective decreased by JPMorgan Chase & Co. from $36.00 to $33.00 in a research note published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other brokerages have also commented on CTRA. Barclays raised 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. Raymond James lowered their target price on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday. Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and lifted their target price for the company from $34.00 to $37.00 in a report on Wednesday. Piper Sandler lifted their target price on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. Finally, Jefferies Financial Group lifted their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus price target of $34.10.

Coterra Energy Stock Performance

Shares of CTRA opened at $26.69 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy has a one year low of $22.30 and a one year high of $29.95. The company has a 50-day simple moving average of $27.72 and a two-hundred day simple moving average of $25.64. The firm has a market capitalization of $20.40 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is 58.28%.

Insiders Place Their Bets

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the sale, the senior vice president now owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coterra Energy

A number of large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in shares of Coterra Energy by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after acquiring an additional 305,626 shares during the period. Czech National Bank grew its position in shares of Coterra Energy by 6.1% during the 4th quarter. Czech National Bank now owns 159,713 shares of the company’s stock valued at $4,079,000 after acquiring an additional 9,115 shares during the period. Bourgeon Capital Management LLC grew its position in shares of Coterra Energy by 107.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock valued at $6,052,000 after acquiring an additional 122,487 shares during the period. Hartford Funds Management Co LLC bought a new stake in shares of Coterra Energy during the 3rd quarter valued at $575,000. Finally, M.E. Allison & CO. Inc. bought a new stake in shares of Coterra Energy during the 4th quarter valued at $217,000. Institutional investors own 87.92% of the company’s stock.

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.