Coterra Energy (NYSE:CTRA) Price Target Raised to $41.00

Coterra Energy (NYSE:CTRA) had its price objective increased by Raymond James Financial from $34.00 to $41.00 in a research report released on Monday morning,MarketScreener reports.

CTRA has been the topic of a number of other research reports. Susquehanna lifted their price target on shares of Coterra Energy from $32.00 to $34.00 and gave the company a “positive” rating in a report on Tuesday, February 3rd. JPMorgan Chase & Co. dropped their price objective on Coterra Energy from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, January 12th. Stephens increased their target price on Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, January 29th. Scotiabank reiterated a “sector perform” rating and issued a $31.00 target price on shares of Coterra Energy in a report on Tuesday, February 3rd. Finally, Piper Sandler boosted their price target on Coterra Energy from $36.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. Fourteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.00.

Coterra Energy Trading Up 3.3%

Shares of CTRA opened at $31.41 on Monday. Coterra Energy has a fifty-two week low of $22.33 and a fifty-two week high of $32.67. The company has a market capitalization of $23.85 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 0.76 and a beta of 0.38. The stock has a fifty day moving average of $28.78 and a two-hundred day moving average of $26.24. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be issued a dividend of $0.22 per share. The ex-dividend date is Wednesday, March 11th. This represents a $0.88 annualized dividend and a yield of 2.8%. Coterra Energy’s payout ratio is currently 38.60%.

Institutional Investors Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently modified their holdings of CTRA. Advisortrust Partners LLC bought a new stake in shares of Coterra Energy in the 4th quarter valued at approximately $318,000. Corient Private Wealth LLC lifted its stake in Coterra Energy by 9.5% during the fourth quarter. Corient Private Wealth LLC now owns 193,934 shares of the company’s stock worth $5,104,000 after purchasing an additional 16,850 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Coterra Energy by 17.4% in the fourth quarter. Hsbc Holdings PLC now owns 2,108,345 shares of the company’s stock worth $55,450,000 after purchasing an additional 312,673 shares during the period. Rehmann Capital Advisory Group acquired a new position in Coterra Energy in the fourth quarter worth $293,000. Finally, Oak Grove Capital LLC increased its stake in Coterra Energy by 11.4% during the fourth quarter. Oak Grove Capital LLC now owns 369,500 shares of the company’s stock valued at $9,725,000 after purchasing an additional 37,800 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

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.