Coterra Energy (NYSE:CTRA) Reaches New 1-Year High – Should You Buy?

Coterra Energy Inc. (NYSE:CTRA) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $35.00 and last traded at $34.9120, with a volume of 864386 shares trading hands. The stock had previously closed at $33.80.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CTRA. Susquehanna lifted their price objective on Coterra Energy from $32.00 to $34.00 and gave the stock a “positive” rating in a report on Tuesday, February 3rd. Weiss Ratings upgraded Coterra Energy from a “hold (c+)” rating to a “buy (b)” rating in a research report on Monday, March 2nd. Piper Sandler lifted their price target on Coterra Energy from $41.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. JPMorgan Chase & Co. lowered their price objective on Coterra Energy from $34.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Finally, William Blair began coverage on shares of Coterra Energy in a research note on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 target price on the stock. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.76.

Coterra Energy Stock Performance

The business has a fifty day moving average of $29.99 and a 200-day moving average of $26.76. The company has a market cap of $26.53 billion, a PE ratio of 15.31, a P/E/G ratio of 0.84 and a beta of 0.38. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.88 annualized dividend and a dividend yield of 2.5%. Coterra Energy’s payout ratio is 38.60%.

Institutional Trading of Coterra Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTRA. Vanguard Group Inc. increased its position in Coterra Energy by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock valued at $2,341,151,000 after purchasing an additional 3,781,606 shares during the period. Wellington Management Group LLP lifted its position in shares of Coterra Energy by 2.7% in the 4th quarter. Wellington Management Group LLP now owns 76,696,789 shares of the company’s stock worth $2,018,659,000 after purchasing an additional 2,051,217 shares during the period. State Street Corp boosted its stake in shares of Coterra Energy by 0.9% during the 2nd quarter. State Street Corp now owns 45,588,319 shares of the company’s stock valued at $1,157,032,000 after purchasing an additional 386,526 shares in the last quarter. Davis Selected Advisers boosted its stake in shares of Coterra Energy by 63.6% during the 4th quarter. Davis Selected Advisers now owns 32,537,508 shares of the company’s stock valued at $856,387,000 after purchasing an additional 12,654,027 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Coterra Energy by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,716,896 shares of the company’s stock valued at $729,509,000 after buying an additional 561,010 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.