Coterra Energy (NYSE:CTRA) Stock Price Expected to Rise, Barclays Analyst Says

Coterra Energy (NYSE:CTRA) had its price objective hoisted by Barclays from $37.00 to $38.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts have also weighed in on CTRA. UBS Group lifted their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Citigroup boosted their price objective on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Truist Financial raised their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Mizuho upped their price target on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. lowered their price objective on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.14.

Coterra Energy Price Performance

CTRA opened at $29.03 on Tuesday. The firm has a 50-day moving average price of $27.92 and a 200-day moving average price of $25.79. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $29.95. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $22.18 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The business 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. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.03%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio (DPR) is currently 58.28%.

Insider Buying and Selling at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Coterra Energy

A number of hedge funds have recently made changes to their positions in CTRA. Charles Schwab Investment Management Inc. raised its position in shares of Coterra Energy by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after buying an additional 305,626 shares during the period. Czech National Bank increased its holdings in Coterra Energy by 6.1% during the 4th quarter. Czech National Bank now owns 159,713 shares of the company’s stock worth $4,079,000 after purchasing an additional 9,115 shares during the period. Bourgeon Capital Management LLC increased its stake in shares of Coterra Energy by 107.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock worth $6,052,000 after buying an additional 122,487 shares during the period. Hartford Funds Management Co LLC acquired a new stake in shares of Coterra Energy in the 3rd quarter valued at $575,000. Finally, M.E. Allison & CO. Inc. purchased a new stake in Coterra Energy during the 4th quarter worth about $217,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

About Coterra Energy

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.