Coterra Energy (NYSE:CTRA) Price Target Raised to $28.00

Coterra Energy (NYSE:CTRA) had its price objective boosted by Jefferies Financial Group from $26.00 to $28.00 in a research note issued to investors on Monday morning,MarketScreener reports.

Several other research firms have also commented on CTRA. Wolfe Research boosted their price objective on shares of Coterra Energy from $33.00 to $40.00 in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. cut their price target on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, January 12th. Susquehanna upped their price target on Coterra Energy from $32.00 to $34.00 and gave the stock a “positive” rating in a research report on Tuesday, February 3rd. Roth Mkm set a $28.00 price objective on Coterra Energy and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Finally, Piper Sandler raised their price objective on Coterra Energy from $36.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. Fourteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Coterra Energy Price Performance

NYSE CTRA opened at $31.41 on Monday. The company has a market cap of $23.85 billion, a PE ratio of 13.78, a P/E/G ratio of 0.76 and a beta of 0.38. The firm’s 50 day moving average price is $28.78 and its 200-day moving average price is $26.24. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19. Coterra Energy has a 52-week low of $22.33 and a 52-week high of $32.67.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, March 11th. Coterra Energy’s dividend payout ratio (DPR) is 38.60%.

Institutional Trading of Coterra Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of 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 acquiring an additional 3,781,606 shares during the period. Wellington Management Group LLP raised its holdings in 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 position in Coterra Energy by 0.9% during the second quarter. State Street Corp now owns 45,588,319 shares of the company’s stock worth $1,157,032,000 after purchasing an additional 386,526 shares in the last quarter. Davis Selected Advisers boosted its position in Coterra Energy by 63.6% during the fourth quarter. Davis Selected Advisers now owns 32,537,508 shares of the company’s stock worth $856,387,000 after purchasing an additional 12,654,027 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Coterra Energy by 2.1% in 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 purchasing an additional 561,010 shares during the period. Institutional investors and hedge funds 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.