Coterra Energy (NYSE:CTRA) Price Target Raised to $37.00

Coterra Energy (NYSE:CTRA) had its price target lifted by Barclays from $34.00 to $37.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also weighed in on the stock. Stephens raised their price objective on shares of Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. TD Cowen dropped their price target on shares of Coterra Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Mizuho raised their price target on shares of Coterra Energy from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. Johnson Rice reduced their price objective on shares of Coterra Energy from $38.00 to $37.00 in a research note on Friday, December 5th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, January 12th. Fourteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.76.

Coterra Energy Stock Up 1.4%

Shares of Coterra Energy stock opened at $33.46 on Monday. The firm has a market cap of $25.41 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 0.82 and a beta of 0.38. The stock has a 50-day simple moving average of $29.46 and a 200-day simple moving average of $26.54. Coterra Energy has a 52-week low of $22.33 and a 52-week high of $33.49. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 1.16.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, March 11th. Coterra Energy’s dividend payout ratio (DPR) is 38.60%.

Institutional Trading of Coterra Energy

A number of institutional investors and hedge funds have recently modified their holdings of CTRA. QRG Capital Management Inc. lifted its position in Coterra Energy by 67.0% during the 3rd quarter. QRG Capital Management Inc. now owns 143,188 shares of the company’s stock worth $3,386,000 after acquiring an additional 57,461 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its position in shares of Coterra Energy by 60.7% in the third quarter. Ashton Thomas Private Wealth LLC now owns 273,650 shares of the company’s stock valued at $6,472,000 after purchasing an additional 103,381 shares during the last quarter. Summit Global Investments acquired a new stake in shares of Coterra Energy in the third quarter valued at about $1,086,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Coterra Energy by 36.2% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 830,392 shares of the company’s stock worth $19,639,000 after purchasing an additional 220,688 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Coterra Energy by 4.0% in the third quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after purchasing an additional 3,781,606 shares during the period. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.