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

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

Other equities analysts also recently issued reports about the stock. Mizuho boosted their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. UBS Group boosted their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group boosted their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Citigroup lifted their price objective on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.14.

Coterra Energy Price Performance

NYSE CTRA opened at $28.74 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy has a 12-month low of $22.30 and a 12-month high of $29.95. The company has a market capitalization 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. The firm’s 50 day moving average is $27.84 and its 200-day moving average is $25.74.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend 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 payout ratio is presently 58.28%.

Insider Activity

In related 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 transaction of $941,735.74. Following the completion of the sale, the senior vice president now owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coterra Energy

Several institutional investors and hedge funds have recently bought and sold shares of CTRA. Wellington Management Group LLP raised its stake in Coterra Energy by 28.4% during the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after acquiring an additional 15,736,247 shares in the last quarter. Sterling Capital Management LLC raised its stake in Coterra Energy by 5,744.3% during the fourth quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company’s stock worth $93,520,000 after acquiring an additional 3,599,042 shares in the last quarter. Holocene Advisors LP raised its stake in Coterra Energy by 187.2% during the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock worth $108,572,000 after acquiring an additional 2,954,675 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Coterra Energy by 117.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company’s stock worth $123,036,000 after acquiring an additional 2,600,801 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Coterra Energy during the fourth quarter worth about $61,461,000. 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.