Coterra Energy Inc. (CTRA) to Issue Quarterly Dividend of $0.22 on March 27th

Coterra Energy Inc. (NYSE:CTRA) declared a quarterly dividend on Monday, February 24th, Wall Street Journal reports. Stockholders of record on Thursday, March 13th will be paid 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 of this dividend is Thursday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21.

Coterra Energy has raised its dividend by an average of 23.6% annually over the last three years. Coterra Energy has a dividend payout ratio of 22.2% meaning its dividend is sufficiently covered by earnings. Equities research 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 Trading Down 2.1 %

NYSE:CTRA opened at $27.38 on Wednesday. The firm has a market capitalization of $20.17 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The business has a fifty day moving average price of $27.29 and a 200-day moving average price of $25.45. Coterra Energy has a one year low of $22.30 and a one year high of $29.95.

Insiders Place Their Bets

In related news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the transaction, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on CTRA. Morgan Stanley raised their price objective on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Susquehanna lifted their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Piper Sandler upped their price target on shares of 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 raised their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Truist Financial upped their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.47.

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.