Coterra Energy (NYSE:CTRA) Price Target Raised to $43.00

Coterra Energy (NYSE:CTRA) had its target price upped by Mizuho from $36.00 to $43.00 in a report published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently issued reports on the stock. Texas Capital downgraded shares of Coterra Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. UBS Group boosted their price objective on shares of Coterra Energy from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Wolfe Research upped their target price on shares of Coterra Energy from $33.00 to $40.00 in a research report on Tuesday, February 3rd. Scotiabank reaffirmed a “sector perform” rating and issued a $31.00 target price on shares of Coterra Energy in a report on Tuesday, February 3rd. Finally, Weiss Ratings upgraded shares of Coterra Energy from a “hold (c+)” rating to a “buy (b)” rating in a research report on Monday, March 2nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and an average price target of $34.76.

Coterra Energy Trading Up 1.4%

Shares of CTRA stock opened at $33.92 on Tuesday. The business’s fifty day moving average price is $29.63 and its 200 day moving average price is $26.59. The firm has a market capitalization of $25.76 billion, a PE ratio of 14.88, a P/E/G ratio of 0.83 and a beta of 0.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 1.16. Coterra Energy has a 1-year low of $22.33 and a 1-year high of $34.67.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th will be given a $0.22 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $0.88 annualized dividend and a dividend yield of 2.6%. Coterra Energy’s payout ratio is currently 38.60%.

Hedge Funds Weigh In On Coterra Energy

Several hedge funds have recently added to or reduced their stakes in the business. Police & Firemen s Retirement System of New Jersey grew its position in shares of Coterra Energy by 8.0% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 114,059 shares of the company’s stock valued at $2,895,000 after purchasing an additional 8,442 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Coterra Energy by 11.2% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 187,194 shares of the company’s stock valued at $4,751,000 after buying an additional 18,779 shares in the last quarter. SG Americas Securities LLC lifted its stake in Coterra Energy by 130.5% in the 2nd quarter. SG Americas Securities LLC now owns 189,128 shares of the company’s stock valued at $4,800,000 after buying an additional 107,071 shares in the last quarter. Cetera Investment Advisers grew its holdings in Coterra Energy by 9.7% during the 2nd quarter. Cetera Investment Advisers now owns 195,699 shares of the company’s stock valued at $4,967,000 after buying an additional 17,237 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in Coterra Energy by 28.6% during the 2nd quarter. Intech Investment Management LLC now owns 73,063 shares of the company’s stock valued at $1,854,000 after buying an additional 16,251 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

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.