Coterra Energy (NYSE:CTRA) Given New $33.00 Price Target at Scotiabank

Coterra Energy (NYSE:CTRA) had its price objective decreased by Scotiabank from $38.00 to $33.00 in a research note issued to investors on Friday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Other research analysts have also issued reports about the company. Williams Trading set a $37.00 price target on Coterra Energy in a research report on Wednesday, March 5th. Jefferies Financial Group increased their price target on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research report on Tuesday, February 4th. Piper Sandler increased their target price on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. UBS Group cut their price target on shares of Coterra Energy from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Finally, The Goldman Sachs Group upped their price target on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.20.

Coterra Energy Price Performance

NYSE CTRA opened at $25.13 on Friday. The firm’s 50 day moving average price is $27.38 and its 200-day moving average price is $26.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company has a market cap of $19.20 billion, a PE ratio of 15.14, a P/E/G ratio of 0.59 and a beta of 0.47. Coterra Energy has a 52-week low of $22.30 and a 52-week high of $29.95.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $0.22 dividend. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Thursday, March 13th. Coterra Energy’s dividend payout ratio is 58.28%.

Insider Transactions at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now owns 126,770 shares in the company, valued at $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 available through the SEC website. Also, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the transaction, the senior vice president now 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. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Coterra Energy

Large investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in Coterra Energy by 1.9% in the fourth quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company’s stock valued at $1,852,385,000 after buying an additional 1,318,754 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Coterra Energy by 5.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock valued at $599,356,000 after purchasing an additional 1,310,965 shares in the last quarter. Geode Capital Management LLC raised its holdings in Coterra Energy by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company’s stock worth $486,528,000 after purchasing an additional 96,059 shares during the period. Victory Capital Management Inc. boosted its position in Coterra Energy by 5.0% during the fourth quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company’s stock worth $454,834,000 after purchasing an additional 845,609 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Coterra Energy by 9.0% in the fourth quarter. Invesco Ltd. now owns 12,232,484 shares of the company’s stock valued at $312,418,000 after purchasing an additional 1,011,166 shares during the period. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Company Profile

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.