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

Coterra Energy (NYSE:CTRA) had its price target boosted by UBS Group from $33.00 to $38.00 in a report issued on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other research firms have also commented on CTRA. Scotiabank reiterated a “sector perform” rating and issued a $31.00 price target on shares of Coterra Energy in a research report on Tuesday, February 3rd. William Blair assumed coverage on Coterra Energy in a research note on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 target price on the stock. Mizuho increased their target price on Coterra Energy from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. Susquehanna boosted their price target on Coterra Energy from $32.00 to $34.00 and gave the stock a “positive” rating in a report on Tuesday, February 3rd. Finally, BMO Capital Markets upped their price objective on Coterra Energy from $32.00 to $35.00 and gave the company a “market perform” rating in a research report on Tuesday, March 3rd. Fifteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and an average target price of $33.95.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $31.12 on Thursday. The company has a current ratio of 1.19, a quick ratio of 0.98 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average price is $28.51 and its 200 day moving average price is $26.09. Coterra Energy has a 52 week low of $22.33 and a 52 week high of $32.67. The stock has a market cap of $23.63 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 0.77 and a beta of 0.38.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders 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 dividend yield of 2.8%. The ex-dividend date is Wednesday, March 11th. Coterra Energy’s dividend payout ratio is presently 38.60%.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors have recently bought and sold shares of the stock. Davis Selected Advisers boosted its holdings in shares of Coterra Energy by 63.6% in the 4th quarter. Davis Selected Advisers now owns 32,537,508 shares of the company’s stock valued at $856,387,000 after purchasing an additional 12,654,027 shares during the last quarter. Kimmeridge Energy Management Company LLC acquired a new stake in shares of Coterra Energy during the 4th quarter worth $165,364,000. Vanguard Group Inc. increased its holdings in shares of Coterra Energy by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after buying an additional 3,781,606 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Coterra Energy by 287.7% in the 3rd quarter. AQR Capital Management LLC now owns 4,573,111 shares of the company’s stock worth $108,154,000 after buying an additional 3,393,697 shares during the period. Finally, Yaupon Capital Management LP purchased a new position in shares of Coterra Energy in the 4th quarter worth $62,360,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

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.