Coterra Energy Inc. (NYSE:CTRA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Coterra Energy Inc. (NYSE:CTRA) have been given a consensus rating of “Moderate Buy” by the twenty-six ratings firms that are covering the firm, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $37.0870.

CTRA has been the topic of several research analyst reports. 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. Jefferies Financial Group boosted their target price on shares of Coterra Energy from $28.00 to $33.00 and gave the stock a “hold” rating in a research report on Monday, April 13th. Barclays boosted their target price on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, March 16th. JPMorgan Chase & Co. decreased their target price on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, January 12th. Finally, Scotiabank upgraded shares of Coterra Energy to a “hold” rating in a research report on Friday, March 27th.

Institutional Investors Weigh In On Coterra Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Coterra Energy by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after buying an additional 3,781,606 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Coterra Energy by 2.7% in the 4th quarter. Wellington Management Group LLP now owns 76,696,789 shares of the company’s stock worth $2,018,659,000 after buying an additional 2,051,217 shares in the last quarter. Davis Selected Advisers boosted its position in shares of Coterra Energy by 63.6% in the 4th quarter. Davis Selected Advisers now owns 32,537,508 shares of the company’s stock worth $856,387,000 after buying an additional 12,654,027 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Coterra Energy by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,716,896 shares of the company’s stock worth $729,509,000 after buying an additional 561,010 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Coterra Energy by 1.9% in the 4th quarter. Victory Capital Management Inc. now owns 21,986,795 shares of the company’s stock worth $578,692,000 after buying an additional 404,986 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $31.90 on Friday. The firm has a market capitalization of $24.22 billion, a P/E ratio of 13.99, a PEG ratio of 0.47 and a beta of 0.29. Coterra Energy has a one year low of $22.33 and a one year high of $36.88. The company’s fifty day moving average is $32.48 and its two-hundred day moving average is $28.22. 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 was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were given a $0.22 dividend. The ex-dividend date was Wednesday, March 11th. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. Coterra Energy’s payout ratio is currently 38.60%.

About Coterra Energy

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.