Coterra Energy (NYSE:CTRA) Price Target Raised to $42.00

Coterra Energy (NYSE:CTRA) had its price objective raised by Citigroup from $32.00 to $42.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

CTRA has been the subject of several other reports. Texas Capital cut shares of Coterra Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Weiss Ratings raised Coterra Energy from a “hold (c+)” rating to a “buy (b)” rating in a research report on Monday, March 2nd. Wolfe Research lifted their target price on Coterra Energy from $33.00 to $40.00 in a report on Tuesday, February 3rd. Zacks Research raised Coterra Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 17th. Finally, BMO Capital Markets upped their price target on Coterra Energy from $32.00 to $35.00 and gave the stock a “market perform” rating in a research note on Tuesday, March 3rd. Sixteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and a consensus target price of $36.17.

Coterra Energy Price Performance

Coterra Energy stock opened at $33.94 on Monday. Coterra Energy has a 1 year low of $22.33 and a 1 year high of $36.88. 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 firm has a 50 day moving average price of $31.33 and a 200 day moving average price of $27.29. The company has a market cap of $25.77 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 0.87 and a beta of 0.29.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, March 11th. Coterra Energy’s dividend payout ratio (DPR) is currently 38.60%.

Institutional Trading of Coterra Energy

Institutional investors have recently added to or reduced their stakes in the business. Davis Selected Advisers boosted its position in shares of 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 buying an additional 12,654,027 shares during the period. Kimmeridge Energy Management Company LLC acquired a new stake in shares of Coterra Energy in the fourth quarter valued at about $165,364,000. Vanguard Group Inc. raised its holdings 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 buying an additional 3,781,606 shares during the period. AQR Capital Management LLC raised its holdings in shares of Coterra Energy by 287.7% during the 3rd quarter. AQR Capital Management LLC now owns 4,573,111 shares of the company’s stock valued at $108,154,000 after buying an additional 3,393,697 shares during the period. Finally, Yaupon Capital Management LP acquired a new position in Coterra Energy during the 4th quarter worth approximately $62,360,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

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.