Coterra Energy Inc. (NYSE:CTRA) Given Average Rating of “Moderate Buy” by Brokerages

Coterra Energy Inc. (NYSE:CTRA) has received an average recommendation of “Moderate Buy” from the twenty-two research firms that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $34.10.

A number of research firms recently commented on CTRA. Williams Trading set a $37.00 price target on Coterra Energy in a research note on Wednesday, March 5th. Barclays boosted their price target on Coterra Energy from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Johnson Rice upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and lifted their target price for the company from $34.00 to $37.00 in a research report on Wednesday, March 12th. Truist Financial lifted their target price on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Jefferies Financial Group lifted their target price on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research report on Tuesday, February 4th.

Insider Activity at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 126,770 shares in the company, valued at $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coterra Energy

Institutional investors have recently added to or reduced their stakes in the business. City State Bank acquired a new position in Coterra Energy in the fourth quarter valued at approximately $26,000. AdvisorNet Financial Inc lifted its stake in 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 buying an additional 744 shares during the period. MCF Advisors LLC lifted its stake in 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 buying an additional 869 shares during the period. R Squared Ltd acquired a new position in shares of Coterra Energy during the fourth quarter worth approximately $32,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Coterra Energy during the fourth quarter worth approximately $43,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Up 1.9 %

CTRA stock opened at $28.16 on Thursday. The company has a market cap of $21.52 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The business has a 50-day simple moving average of $27.79 and a 200 day simple moving average of $25.71. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $29.95. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $0.22 dividend. The ex-dividend date 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 3.12%. Coterra Energy’s dividend payout ratio is presently 58.28%.

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.