Coterra Energy (NYSE:CTRA) Reaches New 12-Month High – Should You Buy?

Shares of Coterra Energy Inc. (NYSE:CTRA) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $36.88 and last traded at $36.5610, with a volume of 1034441 shares changing hands. The stock had previously closed at $36.31.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. UBS Group raised their target price on Coterra Energy from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. BMO Capital Markets upped their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company a “market perform” rating in a report on Tuesday, March 3rd. Zacks Research raised shares of Coterra Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Piper Sandler increased their target price on shares of Coterra Energy from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Finally, Mizuho raised their target price on shares of Coterra Energy from $36.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.76.

Coterra Energy Price Performance

The stock has a 50 day moving average of $30.80 and a two-hundred day moving average of $27.08. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19. The stock has a market cap of $27.77 billion, a PE ratio of 16.01, a PEG ratio of 0.90 and a beta of 0.38.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th were issued a dividend of $0.22 per share. The ex-dividend date was Wednesday, March 11th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.4%. Coterra Energy’s payout ratio is currently 38.60%.

Institutional Trading of Coterra Energy

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Coterra Energy by 4.0% in the third quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after buying an additional 3,781,606 shares during the period. Wellington Management Group LLP boosted its position in Coterra Energy by 2.7% during the 4th quarter. Wellington Management Group LLP now owns 76,696,789 shares of the company’s stock worth $2,018,659,000 after acquiring an additional 2,051,217 shares during the period. State Street Corp grew its stake in 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 acquiring an additional 386,526 shares in the last quarter. Davis Selected Advisers increased its holdings in shares of Coterra Energy by 63.6% in 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 during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of 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 worth $729,509,000 after purchasing an additional 561,010 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.