Coterra Energy Inc. (NYSE:CTRA) Announces Dividend Increase – $0.22 Per Share

Coterra Energy Inc. (NYSE:CTRA) declared a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Stockholders of record on Thursday, March 13th will be given a dividend of 0.22 per share on Thursday, March 27th. This represents a $0.88 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Thursday, March 13th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21.

Coterra Energy has increased its dividend payment by an average of 23.6% per year over the last three years. Coterra Energy has a payout ratio of 22.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Coterra Energy to earn $3.13 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 26.8%.

Coterra Energy Stock Performance

Coterra Energy stock traded down $0.60 during midday trading on Tuesday, reaching $27.38. The stock had a trading volume of 12,759,616 shares, compared to its average volume of 6,175,738. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $20.17 billion, a PE ratio of 16.49, a P/E/G ratio of 0.59 and a beta of 0.26. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $29.95. The firm’s 50-day moving average price is $27.23 and its 200 day moving average price is $25.43.

Analysts Set New Price Targets

A number of analysts recently commented on CTRA shares. Wells Fargo & Company upped their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Piper Sandler increased their target price on Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group lifted their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Susquehanna increased their price objective on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Finally, Citigroup lifted their target price on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.42.

Insider Activity at Coterra Energy

In related news, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the transaction, the senior vice president now directly owns 77,075 shares in the company, valued at $2,016,282. This trade represents a 27.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by insiders.

Coterra Energy Company Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.