Coterra Energy (NYSE:CTRA) Price Target Raised to $41.00

Coterra Energy (NYSE:CTRA) had its price target upped by Piper Sandler from $36.00 to $41.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts have also weighed in on CTRA. Susquehanna lifted their price objective on Coterra Energy from $32.00 to $34.00 and gave the stock a “positive” rating in a research report on Tuesday, February 3rd. Scotiabank restated a “sector perform” rating and set a $31.00 target price on shares of Coterra Energy in a research report on Tuesday, February 3rd. Barclays decreased their target price on Coterra Energy from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, January 21st. William Blair initiated coverage on Coterra Energy in a research note on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 price target on the stock. Finally, Johnson Rice cut their price target on Coterra Energy from $38.00 to $37.00 in a report on Friday, December 5th. Fifteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $33.95.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $31.12 on Thursday. The company has a market capitalization of $23.63 billion, a PE ratio of 13.65, a P/E/G ratio of 0.77 and a beta of 0.38. The company has a quick ratio of 0.98, a current ratio of 1.19 and a debt-to-equity ratio of 0.24. Coterra Energy has a twelve month low of $22.33 and a twelve month high of $32.67. The firm has a fifty day simple moving average of $28.51 and a 200 day simple moving average of $26.09.

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 given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, March 11th. Coterra Energy’s dividend payout ratio is 38.60%.

Institutional Trading of Coterra Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fideuram Asset Management Ireland dac bought a new position in Coterra Energy in the fourth quarter worth approximately $27,000. GoalVest Advisory LLC bought a new stake in shares of Coterra Energy during the fourth quarter valued at approximately $28,000. Winnow Wealth LLC bought a new stake in shares of Coterra Energy during the third quarter valued at approximately $29,000. City Holding Co. raised its position in shares of Coterra Energy by 144.4% during the fourth quarter. City Holding Co. now owns 1,222 shares of the company’s stock worth $32,000 after purchasing an additional 722 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of Coterra Energy during the third quarter worth approximately $29,000. 87.92% of the stock is owned by institutional investors.

About Coterra Energy

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.