Coterra Energy (NYSE:CTRA) Sets New 12-Month High on Analyst Upgrade

Coterra Energy Inc. (NYSE:CTRA) shares hit a new 52-week high on Monday after Barclays raised their price target on the stock from $34.00 to $37.00. Barclays currently has an overweight rating on the stock. Coterra Energy traded as high as $32.71 and last traded at $32.4870, with a volume of 3313937 shares trading hands. The stock had previously closed at $32.15.

Other equities analysts have also issued research reports about the stock. Raymond James Financial increased their price target on shares of Coterra Energy from $34.00 to $41.00 in a report on Monday, March 9th. Mizuho lifted their price objective on shares of Coterra Energy from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, January 15th. JPMorgan Chase & Co. cut their target price on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Johnson Rice reduced their target price on Coterra Energy from $38.00 to $37.00 in a research note on Friday, December 5th. Finally, Susquehanna raised their price target on Coterra Energy from $32.00 to $34.00 and gave the company a “positive” rating in a research report on Tuesday, February 3rd. Fourteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.43.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors have recently made changes to their positions in CTRA. Advisortrust Partners LLC bought a new position in shares of Coterra Energy during the 4th quarter valued at $318,000. Corient Private Wealth LLC raised its position in Coterra Energy by 9.5% in the 4th quarter. Corient Private Wealth LLC now owns 193,934 shares of the company’s stock worth $5,104,000 after purchasing an additional 16,850 shares during the period. Hsbc Holdings PLC lifted its stake in Coterra Energy by 17.4% in the fourth quarter. Hsbc Holdings PLC now owns 2,108,345 shares of the company’s stock worth $55,450,000 after purchasing an additional 312,673 shares during the last quarter. Rehmann Capital Advisory Group bought a new stake in Coterra Energy in the fourth quarter worth $293,000. Finally, Oak Grove Capital LLC boosted its position in Coterra Energy by 11.4% during the fourth quarter. Oak Grove Capital LLC now owns 369,500 shares of the company’s stock valued at $9,725,000 after buying an additional 37,800 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Up 0.8%

The firm’s 50-day simple moving average is $29.14 and its 200-day simple moving average is $26.43. The firm has a market capitalization of $24.60 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 0.80 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.7%. The ex-dividend date is Wednesday, March 11th. Coterra Energy’s dividend payout ratio (DPR) is presently 38.60%.

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.