Coterra Energy (NYSE:CTRA) Downgraded by Texas Capital to Hold

Texas Capital lowered shares of Coterra Energy (NYSE:CTRA) from a strong-buy rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Mizuho increased their price objective on Coterra Energy from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. Raymond James Financial upped their price target on shares of Coterra Energy from $34.00 to $41.00 in a research report on Monday. BMO Capital Markets increased their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company a “market perform” rating in a research note on Tuesday, March 3rd. William Blair assumed coverage on shares of Coterra Energy in a research report on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 price objective for the company. Finally, Stephens boosted their price objective on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. Fifteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Coterra Energy Trading Up 0.4%

Coterra Energy stock opened at $31.16 on Monday. The company has a market cap of $23.66 billion, a price-to-earnings ratio of 13.67, a P/E/G ratio of 0.77 and a beta of 0.37. The firm has a 50-day moving average of $28.61 and a 200-day moving average of $26.16. 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 one year low of $22.33 and a one year high of $32.67.

Coterra Energy Dividend Announcement

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

Institutional Trading of Coterra Energy

A number of hedge funds have recently modified their holdings of CTRA. Corient Private Wealth LLC boosted its holdings in shares of Coterra Energy by 9.5% during the 4th quarter. Corient Private Wealth LLC now owns 193,934 shares of the company’s stock worth $5,104,000 after buying an additional 16,850 shares during the period. Hsbc Holdings PLC raised its holdings in Coterra Energy by 17.4% in the 4th quarter. Hsbc Holdings PLC now owns 2,108,345 shares of the company’s stock valued at $55,450,000 after acquiring an additional 312,673 shares during the period. Rehmann Capital Advisory Group bought a new position in Coterra Energy in the 4th quarter valued at about $293,000. Oak Grove Capital LLC lifted its position in Coterra Energy by 11.4% during the fourth quarter. Oak Grove Capital LLC now owns 369,500 shares of the company’s stock worth $9,725,000 after acquiring an additional 37,800 shares during the last quarter. Finally, MidFirst Bank acquired a new stake in Coterra Energy during the fourth quarter worth approximately $69,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

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.