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

by · The Markets Daily

Shares of Coterra Energy Inc. (NYSE:CTRA – Get Free Report) have received an average recommendation of “Moderate Buy” from the twenty-one brokerages that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $34.20.

A number of equities research analysts recently issued reports on the stock. Raymond James decreased their price objective on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. Truist Financial increased their price objective on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Monday, January 13th. Johnson Rice raised Coterra Energy from a “hold” rating to an “accumulate” rating and upped their target price for the stock from $34.00 to $37.00 in a research report on Wednesday, March 12th. Williams Trading set a $37.00 price target on shares of Coterra Energy in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, March 13th.

Check Out Our Latest Stock Analysis on CTRA

Coterra Energy Price Performance

Shares of CTRA opened at $25.13 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The firm has a market cap of $19.20 billion, a PE ratio of 15.14, a PEG ratio of 0.59 and a beta of 0.47. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $29.95. The firm’s 50 day moving average price is $27.38 and its 200 day moving average price is $26.27.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $0.22 per share. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Thursday, March 13th. Coterra Energy’s payout ratio is 58.28%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. FMR LLC raised its position in Coterra Energy by 11.7% in the 3rd quarter. FMR LLC now owns 911,700 shares of the company’s stock valued at $21,835,000 after purchasing an additional 95,539 shares during the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of Coterra Energy by 4.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 149,945 shares of the company’s stock valued at $3,394,000 after buying an additional 5,877 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in Coterra Energy during the 3rd quarter worth about $635,000. iA Global Asset Management Inc. lifted its position in Coterra Energy by 32.8% during the 3rd quarter. iA Global Asset Management Inc. now owns 65,082 shares of the company’s stock worth $1,559,000 after buying an additional 16,087 shares in the last quarter. Finally, National Bank of Canada FI grew its holdings in 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 acquiring an additional 648,856 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Company Profile

(Get Free Report

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.

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