Coterra Energy Inc. (NYSE:CTRA) Increases Dividend to $0.22 Per Share

Coterra Energy Inc. (NYSE:CTRA) announced a quarterly dividend on Monday, February 24th, Wall Street Journal reports. Investors of record on Thursday, March 13th will be given a dividend of 0.22 per share on Thursday, March 27th. This represents a $0.88 dividend on an annualized basis and a yield of 3.21%. 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 has increased its dividend by an average of 23.6% per year over the last three years. Coterra Energy has a payout ratio of 22.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Coterra Energy to earn $3.13 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 26.8%.

Coterra Energy Trading Down 2.1 %

CTRA traded down $0.60 during mid-day trading on Tuesday, hitting $27.38. The stock had a trading volume of 12,760,878 shares, compared to its average volume of 6,175,813. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $29.95. The firm has a market capitalization of $20.17 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. 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 stock’s fifty day simple moving average is $27.23 and its 200-day simple moving average is $25.43.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Citigroup increased 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 upped their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Jefferies Financial Group lifted their price target on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, February 4th. Truist Financial increased their price target on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Raymond James upped their price objective on shares of Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.42.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the transaction, the senior vice president now owns 77,075 shares in the company, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.70% 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.