Coterra Energy Inc. (NYSE:CTRA) Given Average Rating of “Moderate Buy” by Brokerages

Coterra Energy Inc. (NYSE:CTRA) has earned a consensus recommendation of “Moderate Buy” from the twenty-three ratings firms that are covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $34.7619.

A number of equities research analysts recently issued reports on CTRA shares. TD Cowen reduced their price target on Coterra Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. William Blair started coverage on Coterra Energy in a report on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 price objective for the company. Wolfe Research upped their target price on Coterra Energy from $33.00 to $40.00 in a research report on Tuesday, February 3rd. Roth Mkm set a $28.00 target price on Coterra Energy and gave the stock a “neutral” rating in a report on Tuesday, February 3rd. Finally, Raymond James Financial raised their price target on Coterra Energy from $34.00 to $41.00 in a research report on Monday, March 9th.

Hedge Funds Weigh In On Coterra Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Panagora Asset Management Inc. increased its stake in Coterra Energy by 2.6% in 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 last quarter. Johnson Financial Group Inc. lifted its stake in Coterra Energy by 1.4% during 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 last quarter. Bruce G. Allen Investments LLC boosted its holdings in shares of Coterra Energy by 13.0% in the 4th quarter. Bruce G. Allen Investments LLC now owns 3,219 shares of the company’s stock valued at $85,000 after purchasing an additional 371 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Coterra Energy by 0.7% in 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 in the last quarter. Finally, KLCM Advisors Inc. increased its stake in shares of Coterra Energy by 4.2% in 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 last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

NYSE CTRA opened at $33.98 on Monday. The firm has a 50-day moving average price of $29.82 and a two-hundred day moving average price of $26.69. Coterra Energy has a 12-month low of $22.33 and a 12-month high of $34.67. The company has a market capitalization of $25.80 billion, a P/E ratio of 14.90, a P/E/G ratio of 0.84 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 Announces Dividend

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

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.