Coterra Energy Inc. (NYSE:CTRA) Receives $34.35 Consensus Price Target from Brokerages

Shares of Coterra Energy Inc. (NYSE:CTRA - Get Free Report) have been given an average rating of "Moderate Buy" by the twenty-one brokerages that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $34.20.

Several equities research analysts recently commented on the stock. Mizuho lifted their price target on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an "outperform" rating in a research note on Monday, December 16th. Scotiabank cut their target price on Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating on the stock in a research report on Friday. Truist Financial upped their target price on Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Raymond James cut their price target on Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 12th. Finally, Piper Sandler increased their price objective on Coterra Energy from $34.00 to $37.00 and gave the company an "overweight" rating in a report on Thursday, March 6th.

Insiders Place Their Bets

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the transaction, the senior vice president now directly owns 106,114 shares of the company's stock, valued at approximately $3,086,856.26. This trade represents a 19.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now directly owns 126,770 shares in the company, valued at $3,374,617.40. This trade represents a 21.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.50% of the company's stock.

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Hedge Funds Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently bought and sold shares of CTRA. FMR LLC raised its stake in shares of Coterra Energy by 11.7% during the 3rd quarter. FMR LLC now owns 911,700 shares of the company's stock worth $21,835,000 after buying an additional 95,539 shares during the last quarter. Kovitz Investment Group Partners LLC raised its position in Coterra Energy by 4.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 149,945 shares of the company's stock worth $3,394,000 after acquiring an additional 5,877 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Coterra Energy in the third quarter valued at about $635,000. iA Global Asset Management Inc. grew its position in shares of Coterra Energy by 32.8% in the third quarter. iA Global Asset Management Inc. now owns 65,082 shares of the company's stock valued at $1,559,000 after purchasing an additional 16,087 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Coterra Energy by 315.7% during the 3rd quarter. National Bank of Canada FI now owns 854,377 shares of the company's stock worth $20,462,000 after purchasing an additional 648,856 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Up 1.7 %

CTRA stock traded up $0.43 during midday trading on Monday, reaching $25.13. 7,199,604 shares of the company were exchanged, compared to its average volume of 6,217,968. The company has a market cap of $19.20 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 0.59 and a beta of 0.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $29.95. The stock's 50-day simple moving average is $27.38 and its 200 day simple moving average is $26.27.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.22 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.50%. This is an increase from Coterra Energy's previous quarterly dividend of $0.21. Coterra Energy's dividend payout ratio (DPR) is 58.28%.

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.