Coterra Energy (NYSE:CTRA) Stock Rating Upgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Coterra Energy (NYSE:CTRA) from a hold rating to an accumulate rating in a report issued on Wednesday morning,Benzinga reports. The firm currently has $37.00 price objective on the stock.

A number of other equities analysts have also issued reports on CTRA. The Goldman Sachs Group increased their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company increased their price target on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Truist Financial increased their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Raymond James increased their price target on Coterra Energy from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, Citigroup increased their price target on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.10.

Coterra Energy Stock Up 3.5 %

Shares of Coterra Energy stock opened at $27.66 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The business’s 50 day simple moving average is $27.75 and its 200-day simple moving average is $25.66. The stock has a market capitalization of $21.13 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 0.59 and a beta of 0.26. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $29.95.

Coterra Energy Increases Dividend

The company also recently announced 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 is an increase from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 3.18%. Coterra Energy’s dividend payout ratio (DPR) is 58.28%.

Insider Buying and Selling

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the firm’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 completion of the transaction, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. This trade represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. City State Bank bought a new position in Coterra Energy during the fourth quarter worth about $26,000. AdvisorNet Financial Inc raised its stake in shares of Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after acquiring an additional 744 shares during the last quarter. MCF Advisors LLC raised its stake in shares of Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after acquiring an additional 869 shares during the last quarter. R Squared Ltd bought a new position in shares of Coterra Energy in the fourth quarter valued at approximately $32,000. Finally, Plato Investment Management Ltd bought a new position in shares of Coterra Energy in the fourth quarter valued at approximately $43,000. 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.