Coterra Energy (NYSE:CTRA) Upgraded at Zacks Research

Zacks Research upgraded shares of Coterra Energy (NYSE:CTRA) from a strong sell rating to a hold rating in a research note published on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on the company. Stephens lifted their price objective on Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, January 29th. Texas Capital cut Coterra Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Mizuho raised their target price on Coterra Energy from $36.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday. TD Cowen lowered their price target 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. Finally, Scotiabank reissued a “sector perform” rating and issued a $31.00 price objective on shares of Coterra Energy in a research note on Tuesday, February 3rd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.76.

Coterra Energy Stock Up 1.4%

Shares of NYSE CTRA opened at $33.92 on Tuesday. The firm has a market cap of $25.76 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 0.83 and a beta of 0.38. The company’s 50-day simple moving average is $29.63 and its 200-day simple moving average is $26.59. 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 52-week low of $22.33 and a 52-week high of $34.67.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be issued a $0.22 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. Coterra Energy’s dividend payout ratio is presently 38.60%.

Institutional Inflows and Outflows

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

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.