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

Coterra Energy (NYSE:CTRA) had its target price lifted by Barclays from $34.00 to $37.00 in a report released on Monday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts also recently weighed in on CTRA. William Blair assumed coverage on shares of Coterra Energy in a research note on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 price target on the stock. Siebert Williams Shank cut Coterra Energy from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. Wolfe Research boosted their target price on Coterra Energy from $33.00 to $40.00 in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. dropped their target price on Coterra Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, January 12th. Finally, BMO Capital Markets raised their price target on Coterra Energy from $32.00 to $35.00 and gave the stock a “market perform” rating in a research note on Tuesday, March 3rd. Fourteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $34.43.

Coterra Energy Stock Up 0.8%

CTRA stock opened at $32.40 on Monday. The company has a 50 day moving average of $29.14 and a two-hundred day moving average of $26.43. The company has a market cap of $24.60 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 0.80 and a beta of 0.37. Coterra Energy has a 12-month low of $22.33 and a 12-month high of $32.71. 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders 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 of this dividend is Wednesday, March 11th. Coterra Energy’s dividend payout ratio is presently 38.60%.

Hedge Funds Weigh In On Coterra Energy

Several institutional investors have recently bought and sold shares of the stock. AE Wealth Management LLC increased 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 acquiring an additional 1,285 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Coterra Energy by 91.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,308 shares of the company’s stock worth $1,658,000 after purchasing an additional 31,136 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its position in Coterra Energy by 8.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 114,059 shares of the company’s stock worth $2,895,000 after purchasing an additional 8,442 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Coterra Energy by 11.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 187,194 shares of the company’s stock worth $4,751,000 after purchasing an additional 18,779 shares during the period. Finally, SG Americas Securities LLC grew its holdings in Coterra Energy by 130.5% during the second quarter. SG Americas Securities LLC now owns 189,128 shares of the company’s stock valued at $4,800,000 after purchasing an additional 107,071 shares during 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.