Coterra Energy (NYSE:CTRA) Hits New 52-Week High on Analyst Upgrade

Coterra Energy Inc. (NYSE:CTRA)’s stock price reached a new 52-week high during mid-day trading on Monday after Scotiabank upgraded the stock to a hold rating. The company traded as high as $36.88 and last traded at $36.5610, with a volume of 1034441 shares trading hands. The stock had previously closed at $36.31.

CTRA has been the subject of a number of other research reports. BMO Capital Markets boosted their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the company a “market perform” rating in a research report on Tuesday, March 3rd. Zacks Research raised shares of Coterra Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Stephens boosted their price target on Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, January 29th. Raymond James Financial increased their price target on Coterra Energy from $34.00 to $41.00 in a research note on Monday, March 9th. Finally, Weiss Ratings upgraded Coterra Energy from a “hold (c+)” rating to a “buy (b)” rating in a report on Monday, March 2nd. Fifteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.09.

Hedge Funds Weigh In On Coterra Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Fideuram Asset Management Ireland dac purchased a new position in Coterra Energy in the fourth quarter valued at approximately $27,000. GoalVest Advisory LLC purchased a new stake in Coterra Energy during the fourth quarter worth approximately $28,000. Winnow Wealth LLC purchased a new stake in Coterra Energy during the third quarter worth approximately $29,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Coterra Energy in the third quarter worth $29,000. Finally, Triumph Capital Management purchased a new position in shares of Coterra Energy in the 3rd quarter valued at $31,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24. The firm has a market cap of $26.68 billion, a PE ratio of 15.41, a P/E/G ratio of 0.93 and a beta of 0.38. The stock’s 50 day moving average price is $31.18 and its 200 day moving average price is $27.24.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th were given a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.88 annualized dividend and a yield of 2.5%. Coterra Energy’s dividend payout ratio (DPR) is 38.60%.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.