Coterra Energy (NYSE:CTRA) Reaches New 52-Week High Following Analyst Upgrade

Coterra Energy Inc. (NYSE:CTRA)’s share price reached a new 52-week high during trading on Monday after Barclays raised their price target on the stock from $34.00 to $37.00. Barclays currently has an overweight rating on the stock. Coterra Energy traded as high as $32.71 and last traded at $32.4870, with a volume of 3313937 shares traded. The stock had previously closed at $32.15.

A number of other analysts have also recently issued reports on CTRA. Scotiabank reissued a “sector perform” rating and set a $31.00 price objective on shares of Coterra Energy in a report on Tuesday, February 3rd. William Blair began coverage on Coterra Energy in a research report on Wednesday, November 26th. They set an “outperform” rating and a $36.00 price target on the stock. Zacks Research downgraded shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Piper Sandler raised their price objective on shares of Coterra Energy from $41.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Texas Capital lowered shares of Coterra Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.43.

Institutional Trading of Coterra Energy

A number of hedge funds have recently made changes to their positions in CTRA. Davis Selected Advisers grew its position in Coterra Energy by 63.6% in the fourth quarter. Davis Selected Advisers now owns 32,537,508 shares of the company’s stock worth $856,387,000 after acquiring an additional 12,654,027 shares in the last quarter. Kimmeridge Energy Management Company LLC purchased a new stake in Coterra Energy during the fourth quarter valued at about $165,364,000. Vanguard Group Inc. lifted its stake in Coterra Energy by 4.0% during the third quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after purchasing an additional 3,781,606 shares during the last quarter. AQR Capital Management LLC lifted its stake in Coterra Energy by 287.7% during the third quarter. AQR Capital Management LLC now owns 4,573,111 shares of the company’s stock worth $108,154,000 after purchasing an additional 3,393,697 shares during the last quarter. Finally, Yaupon Capital Management LP purchased a new position in shares of Coterra Energy in the 4th quarter worth about $62,360,000. 87.92% of the stock is owned by institutional investors.

Coterra Energy Price Performance

The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $24.66 billion, a PE ratio of 14.27, a PEG ratio of 0.80 and a beta of 0.37. The business has a fifty day moving average price of $29.01 and a 200-day moving average price of $26.37.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.88 annualized dividend and a yield of 2.7%. Coterra Energy’s dividend payout ratio is currently 38.60%.

Coterra Energy Company Profile

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.