Coterra Energy (NYSE:CTRA) Price Target Raised to $47.00

Coterra Energy (NYSE:CTRA) had its price objective raised by Piper Sandler from $41.00 to $47.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

CTRA has been the subject of a number of other research reports. Barclays reduced their target price on Coterra Energy from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, January 21st. BMO Capital Markets upped their price target 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. Texas Capital downgraded Coterra Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. William Blair started coverage on Coterra Energy in a research report on Wednesday, November 26th. They set an “outperform” rating and a $36.00 price objective for the company. Finally, TD Cowen lowered their target price on Coterra Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Fourteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.29.

Coterra Energy Price Performance

CTRA stock opened at $32.18 on Thursday. Coterra Energy has a one year low of $22.33 and a one year high of $32.67. The firm has a 50-day moving average of $29.01 and a two-hundred day moving average of $26.36. The firm has a market capitalization of $24.43 billion, a PE ratio of 14.11, a P/E/G ratio of 0.80 and a beta of 0.38. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors 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 2.7%. The ex-dividend date is Wednesday, March 11th. Coterra Energy’s dividend payout ratio (DPR) is currently 38.60%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. AE Wealth Management LLC lifted its holdings in shares of Coterra Energy by 15.0% during the 2nd quarter. AE Wealth Management LLC now owns 9,861 shares of the company’s stock valued at $250,000 after buying an additional 1,285 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Coterra Energy by 91.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,308 shares of the company’s stock worth $1,658,000 after buying an additional 31,136 shares during the last quarter. ProShare Advisors LLC increased its holdings in Coterra Energy by 10.5% in the second quarter. ProShare Advisors LLC now owns 169,704 shares of the company’s stock worth $4,307,000 after buying an additional 16,154 shares during the last quarter. Allworth Financial LP raised its position in Coterra Energy by 42.2% during the second quarter. Allworth Financial LP now owns 26,587 shares of the company’s stock valued at $675,000 after acquiring an additional 7,888 shares in the last quarter. Finally, National Pension Service raised its position in Coterra Energy by 0.7% during the second quarter. National Pension Service now owns 1,283,176 shares of the company’s stock valued at $32,567,000 after acquiring an additional 8,484 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.