Coterra Energy (NYSE:CTRA) Price Target Raised to $47.00 at Piper Sandler

Coterra Energy (NYSE:CTRA) had its price objective raised by Piper Sandler from $41.00 to $47.00 in a research note released on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other equities analysts have also commented on CTRA. Zacks Research lowered shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Jefferies Financial Group lifted their price objective on shares of Coterra Energy from $26.00 to $28.00 in a research report on Monday. Susquehanna boosted their target price on shares of Coterra Energy from $32.00 to $34.00 and gave the company a “positive” rating in a research note on Tuesday, February 3rd. William Blair began coverage on shares of Coterra Energy in a research report on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 target price for the company. Finally, Stephens raised their price target on shares of Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. Fourteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average price target of $34.29.

Coterra Energy Price Performance

Shares of CTRA opened at $31.99 on Thursday. The company has a market cap of $24.29 billion, a P/E ratio of 14.03, a PEG ratio of 0.78 and a beta of 0.38. The stock has a fifty day moving average price of $28.90 and a 200 day moving average price of $26.28. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 1.16. Coterra Energy has a 12 month low of $22.33 and a 12 month high of $32.67.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Wednesday, March 11th. Coterra Energy’s payout ratio is 38.60%.

Institutional Trading of Coterra Energy

A number of institutional investors have recently made changes to their positions in CTRA. Advisortrust Partners LLC bought a new stake in Coterra Energy during the fourth quarter worth approximately $318,000. Corient Private Wealth LLC boosted its stake in Coterra Energy by 9.5% during the 4th quarter. Corient Private Wealth LLC now owns 193,934 shares of the company’s stock valued at $5,104,000 after purchasing an additional 16,850 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Coterra Energy by 17.4% during the 4th quarter. Hsbc Holdings PLC now owns 2,108,345 shares of the company’s stock valued at $55,450,000 after purchasing an additional 312,673 shares during the period. Rehmann Capital Advisory Group acquired a new position in shares of Coterra Energy during the 4th quarter valued at $293,000. Finally, Oak Grove Capital LLC raised its stake in shares of Coterra Energy by 11.4% in the 4th quarter. Oak Grove Capital LLC now owns 369,500 shares of the company’s stock worth $9,725,000 after buying an additional 37,800 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

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.