Coterra Energy (NYSE:CTRA) Price Target Raised to $37.00

Coterra Energy (NYSE:CTRA) had its target price lifted by Piper Sandler from $34.00 to $37.00 in a research note published on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Raymond James raised their price objective on shares of Coterra Energy from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Jefferies Financial Group lifted their price objective on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday, February 4th. Truist Financial upped their price objective on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Monday, January 13th. The Goldman Sachs Group raised their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Citigroup upped their price target on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $33.63.

Coterra Energy Stock Performance

Coterra Energy stock opened at $26.10 on Thursday. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $29.95. The company’s 50-day moving average is $27.63 and its two-hundred day moving average is $25.57. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The company has a market cap of $19.94 billion, a PE ratio of 15.72, a PEG ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.37%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio is currently 58.28%.

Institutional Trading of Coterra Energy

Large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its holdings in Coterra Energy by 19.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,155 shares of the company’s stock worth $195,000 after purchasing an additional 1,333 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Coterra Energy by 0.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 230,579 shares of the company’s stock worth $5,522,000 after purchasing an additional 1,207 shares during the period. National Pension Service lifted its holdings in Coterra Energy by 14.0% during the third quarter. National Pension Service now owns 1,335,880 shares of the company’s stock valued at $31,994,000 after purchasing an additional 164,048 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of Coterra Energy by 5.9% in the third quarter. QRG Capital Management Inc. now owns 61,649 shares of the company’s stock valued at $1,476,000 after purchasing an additional 3,410 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC grew its holdings in Coterra Energy by 6.7% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 8,358 shares of the company’s stock valued at $200,000 after buying an additional 523 shares in the last quarter. 87.92% of the stock is 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.