Coterra Energy (NYSE:CTRA) Upgraded at Zacks Research

Zacks Research upgraded shares of Coterra Energy (NYSE:CTRA) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Several other equities analysts have also issued reports on the stock. Mizuho lifted their target price on shares of Coterra Energy from $36.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, March 17th. Texas Capital downgraded Coterra Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Citigroup raised their price objective on Coterra Energy from $32.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, March 30th. Barclays lifted their price objective on Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, March 16th. Finally, Piper Sandler boosted their target price on Coterra Energy from $41.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and an average target price of $36.83.

Coterra Energy Trading Down 3.4%

Shares of NYSE CTRA opened at $30.89 on Wednesday. Coterra Energy has a 1 year low of $22.33 and a 1 year high of $36.88. The stock has a market cap of $23.46 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 0.49 and a beta of 0.29. The firm has a 50-day moving average of $32.44 and a 200 day moving average of $28.04. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 1.16.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Wednesday, March 11th. Coterra Energy’s payout ratio is presently 38.60%.

Institutional Trading of Coterra Energy

Institutional investors have recently added to or reduced their stakes in the business. Fideuram Asset Management Ireland dac purchased a new position in shares of Coterra Energy in the fourth quarter worth $27,000. GoalVest Advisory LLC bought a new position in shares of Coterra Energy during the fourth quarter valued at $28,000. Winnow Wealth LLC purchased a new stake in shares of Coterra Energy during the third quarter valued at $29,000. Atlantic Union Bankshares Corp purchased a new stake in shares of Coterra Energy during the third quarter valued at $29,000. Finally, Triumph Capital Management bought a new stake in Coterra Energy in the 3rd quarter worth about $31,000. 87.92% of the stock is currently owned by hedge funds and other 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.