Coterra Energy (NYSE:CTRA) Price Target Raised to $38.00

Coterra Energy (NYSE:CTRA) had its target price lifted by Barclays from $37.00 to $38.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also commented on CTRA. Citigroup upped their target price on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Johnson Rice upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and increased their price target for the stock from $34.00 to $37.00 in a report on Wednesday, March 12th. The Goldman Sachs Group lifted their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Piper Sandler increased their target price on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Three investment 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.14.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $29.03 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $22.18 billion, a PE ratio of 17.49, a P/E/G ratio of 0.59 and a beta of 0.26. The firm has a fifty day simple moving average of $27.92 and a 200 day simple moving average of $25.79. 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 declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.03%. Coterra Energy’s payout ratio is 58.28%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $26.62, for a total value 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 represents a 21.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Coterra Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CIBC Asset Management Inc raised its position in Coterra Energy by 6.4% in the third quarter. CIBC Asset Management Inc now owns 126,561 shares of the company’s stock worth $3,031,000 after acquiring an additional 7,649 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Coterra Energy by 0.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 471,256 shares of the company’s stock worth $11,287,000 after purchasing an additional 3,920 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Coterra Energy in the 3rd quarter worth approximately $360,000. Advisors Asset Management Inc. raised its holdings in shares of Coterra Energy by 2.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 65,668 shares of the company’s stock worth $1,573,000 after purchasing an additional 1,333 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Coterra Energy by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after purchasing an additional 305,626 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

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.