Raymond James Has Lowered Expectations for Coterra Energy (NYSE:CTRA) Stock Price

Coterra Energy (NYSE:CTRA - Free Report) had its price objective lowered by Raymond James from $41.00 to $37.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research firms have also weighed in on CTRA. Barclays lifted their price target on Coterra Energy from $36.00 to $37.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Susquehanna lifted their target price on shares of Coterra Energy from $30.00 to $33.00 and gave the company a "positive" rating in a report on Thursday, November 14th. UBS Group upped their price target on Coterra Energy from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Piper Sandler lifted their price objective on Coterra Energy from $34.00 to $37.00 and gave the company an "overweight" rating in a research note on Thursday, March 6th. Finally, Williams Trading set a $37.00 target price on Coterra Energy in a research note on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $34.10.

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Coterra Energy Trading Up 3.5 %

NYSE:CTRA traded up $0.94 during midday trading on Wednesday, reaching $27.66. 5,671,683 shares of the stock traded hands, compared to its average volume of 6,430,297. The stock has a market capitalization of $21.13 billion, a P/E ratio of 16.66, a PEG ratio of 0.59 and a beta of 0.26. The company has a fifty day moving average of $27.75 and a 200 day moving average of $25.68. 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 12 month low of $22.30 and a 12 month high of $29.95.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.18%. This is a positive change from Coterra Energy's previous quarterly dividend of $0.21. The ex-dividend date is Thursday, March 13th. Coterra Energy's dividend payout ratio is presently 58.28%.

Insiders Place Their Bets

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the firm'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 of the company's stock, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its position in shares of Coterra Energy by 1.9% in the fourth quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company's stock valued at $1,852,385,000 after purchasing an additional 1,318,754 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Coterra Energy by 5.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company's stock worth $599,356,000 after acquiring an additional 1,310,965 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Coterra Energy by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company's stock worth $486,528,000 after purchasing an additional 96,059 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Coterra Energy by 5.0% in the 4th quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company's stock valued at $454,834,000 after purchasing an additional 845,609 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Coterra Energy by 9.0% during the 4th quarter. Invesco Ltd. now owns 12,232,484 shares of the company's stock worth $312,418,000 after purchasing an additional 1,011,166 shares during the last quarter. Hedge funds and other 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.