Coterra Energy Inc. (NYSE:CTRA) Receives Average Rating of “Moderate Buy” from Analysts

Coterra Energy Inc. (NYSE:CTRA) has received a consensus recommendation of “Moderate Buy” from the twenty-one brokerages that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $34.35.

Several equities research analysts have recently issued reports on the company. UBS Group raised their price objective on Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Williams Trading set a $37.00 price target on shares of Coterra Energy in a report on Wednesday, March 5th. Mizuho boosted their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Truist Financial raised their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th.

Insider Activity

In other news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the sale, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the sale, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. This represents a 19.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Coterra Energy

Several hedge funds have recently bought and sold shares of CTRA. City State Bank bought a new stake in Coterra Energy during the fourth quarter worth approximately $26,000. AdvisorNet Financial Inc increased its position in shares of Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after purchasing an additional 744 shares during the period. MCF Advisors LLC raised its stake in shares of Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after buying an additional 869 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Coterra Energy in the fourth quarter valued at $32,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of Coterra Energy in the fourth quarter valued at $43,000. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Stock Down 8.3 %

Shares of Coterra Energy stock opened at $25.09 on Monday. The company has a market cap of $19.17 billion, a P/E ratio of 15.11, a PEG ratio of 0.59 and a beta of 0.47. The firm has a fifty day moving average of $27.78 and a two-hundred day moving average of $26.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy has a one year low of $22.30 and a one year high of $29.95.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $0.22 dividend. The ex-dividend date was Thursday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.51%. Coterra Energy’s dividend payout ratio is 58.28%.

About Coterra Energy

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.