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

Coterra Energy Inc. (NYSE:CTRA) has been given an average recommendation of “Moderate Buy” by the twenty-two ratings firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $34.14.

A number of research firms have recently commented on CTRA. JPMorgan Chase & Co. lowered their target price on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Jefferies Financial Group lifted their target price on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday, February 4th. Citigroup lifted their price objective on 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 Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Finally, Truist Financial lifted their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th.

Coterra Energy Trading Up 1.6 %

NYSE CTRA opened at $29.23 on Thursday. The stock has a market capitalization of $22.33 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 0.59 and a beta of 0.26. Coterra Energy has a one year low of $22.30 and a one year high of $29.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The business’s fifty day moving average is $27.88 and its 200-day moving average is $25.76.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.01%. 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 dividend payout ratio (DPR) is 58.28%.

Insider Activity

In other news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the completion of the sale, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Coterra Energy

A number of large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in Coterra Energy by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after buying an additional 305,626 shares during the last quarter. Czech National Bank lifted its position in Coterra Energy by 6.1% in the 4th quarter. Czech National Bank now owns 159,713 shares of the company’s stock worth $4,079,000 after buying an additional 9,115 shares during the last quarter. Bourgeon Capital Management LLC lifted its position in Coterra Energy by 107.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock worth $6,052,000 after buying an additional 122,487 shares during the last quarter. Hartford Funds Management Co LLC bought a new stake in Coterra Energy in the 3rd quarter worth approximately $575,000. Finally, M.E. Allison & CO. Inc. bought a new stake in Coterra Energy in the 4th quarter worth approximately $217,000. 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.