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

Coterra Energy (NYSE:CTRA) had its price target raised by Barclays from $36.00 to $37.00 in a report released on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other research analysts have also issued reports about the company. Truist Financial increased their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Wells Fargo & Company lifted their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Jefferies Financial Group lifted their price target on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, February 4th. Raymond James lifted their price target on shares of Coterra Energy from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Finally, Stephens lifted their price target on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and an average price target of $33.47.

Coterra Energy Price Performance

Shares of CTRA stock opened at $26.87 on Wednesday. The stock’s fifty day simple moving average is $27.29 and its 200 day simple moving average is $25.45. Coterra Energy has a one year low of $22.30 and a one year high of $29.95. The firm has a market cap of $19.79 billion, a price-to-earnings ratio of 16.18, 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.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $0.22 dividend. The ex-dividend date is Thursday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.28%. Coterra Energy’s payout ratio is currently 50.60%.

Insider Buying and Selling

In related news, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the sale, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Capital A Wealth Management LLC bought a new stake in shares of Coterra Energy during the fourth quarter worth approximately $127,000. Heck Capital Advisors LLC acquired a new position in Coterra Energy during the fourth quarter valued at approximately $266,000. Cypress Asset Management Inc. TX acquired a new position in Coterra Energy during the fourth quarter valued at approximately $295,000. Mackenzie Financial Corp grew its holdings in Coterra Energy by 446.4% during the fourth quarter. Mackenzie Financial Corp now owns 784,759 shares of the company’s stock valued at $20,043,000 after purchasing an additional 641,138 shares during the period. Finally, Forum Financial Management LP grew its holdings in Coterra Energy by 18.3% during the fourth quarter. Forum Financial Management LP now owns 18,750 shares of the company’s stock valued at $479,000 after purchasing an additional 2,896 shares during the period. 87.92% of the stock is owned by institutional investors.

Coterra Energy Company Profile

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.