Coterra Energy Inc. (NYSE:CTRA) Receives Average Recommendation of “Moderate Buy” from Analysts

Coterra Energy Inc. (NYSE:CTRA) has earned an average rating of “Moderate Buy” from the twenty-one research firms that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $34.35.

A number of equities research analysts have recently issued reports on the stock. Raymond James cut their price objective on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, March 12th. Morgan Stanley cut their price target on Coterra Energy from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. Truist Financial upped their price target on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Williams Trading set a $37.00 price objective on shares of Coterra Energy in a research note on Wednesday, March 5th. Finally, Piper Sandler raised their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th.

Insider Activity

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the transaction, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at $3,086,856.26. This trade represents a 19.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction on Monday, March 10th. The shares were 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 directly owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Coterra Energy

Several hedge funds have recently modified their holdings of CTRA. Quent Capital LLC increased its position in shares of Coterra Energy by 15.9% in the 1st quarter. Quent Capital LLC now owns 4,488 shares of the company’s stock valued at $130,000 after purchasing an additional 616 shares during the last quarter. Confluence Investment Management LLC increased its holdings in Coterra Energy by 2.1% in the first quarter. Confluence Investment Management LLC now owns 23,309 shares of the company’s stock valued at $674,000 after buying an additional 472 shares during the last quarter. DSG Capital Advisors LLC acquired a new stake in Coterra Energy in the fourth quarter valued at $322,000. Thoma Capital Management LLC purchased a new stake in Coterra Energy during the 4th quarter worth about $828,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Coterra Energy by 10.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 50,388 shares of the company’s stock worth $1,287,000 after acquiring an additional 4,748 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Trading Down 8.3 %

Coterra Energy stock opened at $25.09 on Monday. Coterra Energy has a 52-week low of $22.30 and a 52-week high of $29.95. The company has a market cap of $19.17 billion, a P/E ratio of 15.11, a P/E/G ratio of 0.59 and a beta of 0.47. 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 business has a 50-day simple moving average of $27.78 and a two-hundred day simple moving average of $26.23.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $0.22 dividend. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.51%. Coterra Energy’s payout ratio is 58.28%.

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.