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

Shares of Coterra Energy Inc. (NYSE:CTRA) have earned a consensus recommendation of “Moderate Buy” from the twenty-two brokerages that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $34.10.

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group upped their target price on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research report on Tuesday, February 4th. Citigroup increased their price target on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Johnson Rice raised Coterra Energy from a “hold” rating to an “accumulate” rating and increased their price target for the company from $34.00 to $37.00 in a research report on Wednesday, March 12th. Truist Financial increased their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Barclays increased their price target on Coterra Energy from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th.

Insider Transactions at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the sale, the senior vice president now owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of Coterra Energy

A number of institutional investors have recently added to or reduced their stakes in CTRA. Assetmark Inc. raised its holdings in shares of Coterra Energy by 11.7% in the 3rd quarter. Assetmark Inc. now owns 93,849 shares of the company’s stock valued at $2,248,000 after acquiring an additional 9,840 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in shares of Coterra Energy by 4.2% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 17,777 shares of the company’s stock valued at $426,000 after acquiring an additional 724 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Coterra Energy by 2.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,650,859 shares of the company’s stock valued at $39,538,000 after acquiring an additional 40,569 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Coterra Energy in the 3rd quarter valued at about $376,000. Finally, MQS Management LLC purchased a new stake in shares of Coterra Energy in the 3rd quarter valued at about $776,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $28.16 on Thursday. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $29.95. The stock’s 50 day moving average is $27.79 and its 200-day moving average is $25.71. The firm has a market capitalization of $21.52 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.22 per share. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.12%. Coterra Energy’s dividend payout ratio is presently 58.28%.

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.