Coterra Energy (NYSE:CTRA) Price Target Raised to $32.00 at Scotiabank

Coterra Energy (NYSE:CTRA) had its price objective lifted by Scotiabank from $31.00 to $32.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other research firms also recently issued reports on CTRA. Raymond James Financial boosted their price target on Coterra Energy from $34.00 to $41.00 in a research note on Monday, March 9th. Piper Sandler boosted their price target on Coterra Energy from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Siebert Williams Shank downgraded Coterra Energy from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. JPMorgan Chase & Co. cut their price target on Coterra Energy from $34.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, January 12th. Finally, Wolfe Research boosted their price target on Coterra Energy from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.13.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $32.94 on Wednesday. Coterra Energy has a fifty-two week low of $22.33 and a fifty-two week high of $36.88. The business has a 50-day simple moving average of $32.51 and a two-hundred day simple moving average of $28.25. 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 market cap of $25.02 billion, a price-to-earnings ratio of 14.45, a price-to-earnings-growth ratio of 0.47 and a beta of 0.29.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.7%. The ex-dividend date was Wednesday, March 11th. Coterra Energy’s dividend payout ratio is presently 38.60%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fideuram Asset Management Ireland dac bought a new position in Coterra Energy in the 4th quarter worth approximately $27,000. GoalVest Advisory LLC bought a new position in Coterra Energy in the 4th quarter worth approximately $28,000. Winnow Wealth LLC bought a new position in Coterra Energy in the 3rd quarter worth approximately $29,000. City Holding Co. boosted its stake in Coterra Energy by 144.4% in the 4th quarter. City Holding Co. now owns 1,222 shares of the company’s stock worth $32,000 after purchasing an additional 722 shares during the period. Finally, Atlantic Union Bankshares Corp bought a new position in Coterra Energy in the 3rd quarter worth approximately $29,000. 87.92% of the stock is currently owned by institutional investors.

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.