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

Coterra Energy (NYSE:CTRA) had its price objective boosted by Wolfe Research from $45.00 to $46.00 in a research note issued to investors on Monday morning,MarketScreener reports. Wolfe Research currently has an outperform rating on the stock.

CTRA has been the subject of a number of other reports. Capital One Financial raised their target price on Coterra Energy from $37.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 25th. Citigroup raised their target price on Coterra Energy from $32.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, March 30th. Siebert Williams Shank downgraded Coterra Energy from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. TD Cowen decreased their target price on Coterra Energy from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Finally, Jefferies Financial Group raised their target price on Coterra Energy from $26.00 to $28.00 in a research report on Monday, March 9th. Sixteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.43.

Coterra Energy Stock Performance

NYSE:CTRA opened at $34.63 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 1.16. The business has a fifty day simple moving average of $31.76 and a two-hundred day simple moving average of $27.53. Coterra Energy has a 1 year low of $22.33 and a 1 year high of $36.88. The company has a market capitalization of $26.30 billion, a P/E ratio of 15.19, a P/E/G ratio of 0.61 and a beta of 0.29.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th were given a $0.22 dividend. The ex-dividend date was Wednesday, March 11th. This represents a $0.88 annualized dividend and a dividend yield of 2.5%. Coterra Energy’s payout ratio is 38.60%.

Hedge Funds Weigh In On Coterra Energy

Several hedge funds have recently made changes to their positions in CTRA. Lido Advisors LLC grew its position in shares of Coterra Energy by 16.2% in the second quarter. Lido Advisors LLC now owns 9,599 shares of the company’s stock valued at $244,000 after purchasing an additional 1,335 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Coterra Energy by 11.1% in the second quarter. Fisher Asset Management LLC now owns 15,612 shares of the company’s stock valued at $396,000 after purchasing an additional 1,558 shares in the last quarter. Beacon Pointe Advisors LLC grew its position in shares of Coterra Energy by 58.3% in the second quarter. Beacon Pointe Advisors LLC now owns 23,078 shares of the company’s stock valued at $586,000 after purchasing an additional 8,497 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Coterra Energy by 72.5% during the second quarter. EverSource Wealth Advisors LLC now owns 5,537 shares of the company’s stock valued at $141,000 after buying an additional 2,328 shares during the period. Finally, Jump Financial LLC boosted its stake in Coterra Energy by 64.4% during the second quarter. Jump Financial LLC now owns 32,498 shares of the company’s stock valued at $825,000 after buying an additional 12,731 shares during the period. 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.