Coterra Energy (NYSE:CTRA) Rating Increased to Accumulate at Johnson Rice

Johnson Rice upgraded shares of Coterra Energy (NYSE:CTRA) from a hold rating to an accumulate rating in a research note released on Wednesday, Marketbeat reports. They currently have $37.00 price objective on the stock, up from their previous price objective of $34.00.

Other research analysts also recently issued reports about the stock. Barclays boosted their price objective on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Piper Sandler boosted their price target on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. Morgan Stanley upped their price target on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. UBS Group lifted their price objective on Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Williams Trading set a $37.00 target price on Coterra Energy in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and an average target price of $34.10.

Coterra Energy Trading Up 3.5 %

Shares of NYSE CTRA opened at $27.66 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy has a one year low of $22.30 and a one year high of $29.95. The business has a 50-day moving average price of $27.75 and a two-hundred day moving average price of $25.66. The firm has a market capitalization of $21.13 billion, a PE ratio of 16.66, a PEG ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors 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%. The ex-dividend date is Thursday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio (DPR) is 58.28%.

Insider Buying and Selling at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the company’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 transaction of $941,735.74. Following the completion of the transaction, the senior vice president now directly owns 126,770 shares in the company, valued at $3,374,617.40. The trade was a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Coterra Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. City State Bank acquired a new stake in Coterra Energy in the 4th quarter worth $26,000. AdvisorNet Financial Inc grew its position in Coterra Energy by 192.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after buying an additional 744 shares in the last quarter. MCF Advisors LLC increased its stake in Coterra Energy by 230.5% during the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after acquiring an additional 869 shares during the period. R Squared Ltd acquired a new position in Coterra Energy in the 4th quarter valued at approximately $32,000. Finally, Plato Investment Management Ltd bought a new stake in shares of Coterra Energy in the 4th quarter worth approximately $43,000. Institutional investors 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.