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

Shares of Coterra Energy Inc. (NYSE:CTRA) have been assigned an average recommendation of “Moderate Buy” from the twenty-two research firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and one has assigned a strong 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 $34.14.

Several brokerages have weighed in on CTRA. Piper Sandler boosted their price objective on Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Johnson Rice upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and boosted their price objective for the company from $34.00 to $37.00 in a research report on Wednesday, March 12th. Mizuho boosted their price objective on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Williams Trading set a $37.00 price objective on Coterra Energy in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. reduced their target price on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $29.23 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The stock has a 50 day moving average price of $27.88 and a two-hundred day moving average price of $25.76. The company has a market capitalization of $22.33 billion, a P/E ratio of 17.61, a PEG ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.22 dividend. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Thursday, March 13th. Coterra Energy’s dividend payout ratio is currently 58.28%.

Insider Transactions at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors have recently modified their holdings of CTRA. City State Bank bought a new position in shares of Coterra Energy during the fourth quarter valued at $26,000. AdvisorNet Financial Inc lifted its holdings in shares of Coterra Energy by 192.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after purchasing an additional 744 shares in the last quarter. MCF Advisors LLC lifted its holdings in shares of Coterra Energy by 230.5% during the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares in the last quarter. R Squared Ltd bought a new position in shares of Coterra Energy during the fourth quarter valued at $32,000. Finally, Plato Investment Management Ltd bought a new position in shares of Coterra Energy during the fourth quarter valued at $43,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

About Coterra Energy

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.