Citigroup Issues Positive Forecast for Coterra Energy (NYSE:CTRA) Stock Price

Coterra Energy (NYSE:CTRA) had its target price hoisted by Citigroup from $32.00 to $42.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on CTRA. Piper Sandler boosted their price target on shares of Coterra Energy from $41.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Barclays lifted their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, March 16th. Wolfe Research boosted their target price on shares of Coterra Energy from $33.00 to $40.00 in a research note on Tuesday, February 3rd. UBS Group raised their price target on shares of Coterra Energy from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Finally, TD Cowen reduced their price objective on Coterra Energy from $33.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Fifteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $35.09.

Coterra Energy Stock Down 0.9%

CTRA stock opened at $35.97 on Monday. The firm has a market capitalization of $27.31 billion, a PE ratio of 15.78, a P/E/G ratio of 0.90 and a beta of 0.37. The company has a quick ratio of 1.16, 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 $36.88. The stock’s 50 day moving average is $31.01 and its 200-day moving average is $27.16.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Wednesday, March 11th. Coterra Energy’s dividend payout ratio (DPR) is 38.60%.

Hedge Funds Weigh In On Coterra Energy

Several institutional investors have recently modified their holdings of the company. Panagora Asset Management Inc. grew its stake in shares of Coterra Energy by 2.6% in the 4th quarter. Panagora Asset Management Inc. now owns 13,747 shares of the company’s stock worth $362,000 after acquiring an additional 347 shares in the last quarter. Johnson Financial Group Inc. lifted its position in shares of Coterra Energy by 1.4% during the fourth quarter. Johnson Financial Group Inc. now owns 25,158 shares of the company’s stock valued at $662,000 after purchasing an additional 349 shares in the last quarter. Bruce G. Allen Investments LLC boosted its holdings in Coterra Energy by 13.0% during the fourth quarter. Bruce G. Allen Investments LLC now owns 3,219 shares of the company’s stock worth $85,000 after purchasing an additional 371 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Coterra Energy by 0.7% during the third quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock worth $1,438,000 after purchasing an additional 398 shares during the last quarter. Finally, KLCM Advisors Inc. grew its position in Coterra Energy by 4.2% in the 3rd quarter. KLCM Advisors Inc. now owns 9,855 shares of the company’s stock worth $233,000 after purchasing an additional 400 shares in the last quarter. 87.92% of the stock is currently owned by 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.