Coterra Energy (NYSE:CTRA) Given New $37.00 Price Target at Raymond James

Coterra Energy (NYSE:CTRA) had its price objective trimmed by Raymond James from $41.00 to $37.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also recently weighed in on CTRA. Susquehanna upped their price target on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Johnson Rice upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and upped their price target for the stock from $34.00 to $37.00 in a report on Wednesday. Barclays upped their price target on Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. raised Coterra Energy from a “hold” rating to an “accumulate” rating and set a $37.00 target price on the stock in a research note on Wednesday. Finally, 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 note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $34.10.

Coterra Energy Stock Performance

CTRA opened at $27.66 on Wednesday. The stock has a market cap of $21.13 billion, a P/E ratio of 16.66, a P/E/G ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The stock’s 50 day simple moving average is $27.75 and its 200 day simple moving average is $25.66. Coterra Energy has a 1-year low of $22.30 and a 1-year 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 paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Thursday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio is currently 58.28%.

Insiders Place Their Bets

In other news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the completion of the sale, the senior vice president now directly owns 126,770 shares in the company, valued at $3,374,617.40. This represents a 21.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Coterra Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the company. City State Bank acquired a new stake in Coterra Energy in the 4th quarter valued at $26,000. AdvisorNet Financial Inc increased its holdings in Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after purchasing an additional 744 shares in the last quarter. MCF Advisors LLC increased its holdings in Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares in the last quarter. R Squared Ltd acquired a new stake in Coterra Energy in the 4th quarter valued at $32,000. Finally, Plato Investment Management Ltd acquired a new stake in Coterra Energy in the 4th quarter valued at $43,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

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.