Coterra Energy (NYSE:CTRA) Price Target Raised to $38.00 at Barclays

Coterra Energy (NYSE:CTRA) had its target price raised by Barclays from $37.00 to $38.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages also recently weighed in on CTRA. Raymond James reduced their price target on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. UBS Group increased their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Williams Trading set a $37.00 price objective on shares of Coterra Energy in a research note on Wednesday, March 5th. Piper Sandler increased their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.14.

Coterra Energy Price Performance

Shares of Coterra Energy stock opened at $28.74 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The firm has a fifty day moving average price of $27.84 and a two-hundred day moving average price of $25.74. The company has a market cap of $21.96 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio (DPR) is presently 58.28%.

Insider Buying and Selling at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the firm’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 transaction, the senior vice president now owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in Coterra Energy by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after acquiring an additional 305,626 shares during the last quarter. Czech National Bank raised its holdings in Coterra Energy by 6.1% during the 4th quarter. Czech National Bank now owns 159,713 shares of the company’s stock worth $4,079,000 after buying an additional 9,115 shares during the period. Bourgeon Capital Management LLC raised its holdings in Coterra Energy by 107.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock worth $6,052,000 after buying an additional 122,487 shares during the period. Hartford Funds Management Co LLC acquired a new stake in Coterra Energy during the 3rd quarter worth approximately $575,000. Finally, M.E. Allison & CO. Inc. acquired a new stake in Coterra Energy during the 4th quarter worth approximately $217,000. Institutional investors own 87.92% of the company’s stock.

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.