Coterra Energy (NYSE:CTRA) Upgraded at Johnson Rice

Johnson Rice upgraded shares of Coterra Energy (NYSE:CTRA) from a hold rating to an accumulate rating in a research note published on Wednesday, Marketbeat.com reports. Johnson Rice currently has $37.00 target price on the stock, up from their prior target price of $34.00.

CTRA has been the topic of a number of other research reports. Barclays raised their target price on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Truist Financial raised their price target on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Piper Sandler upped their price objective on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Wells Fargo & Company increased their target price on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Citigroup boosted their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Three research 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 company. Based on data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $34.10.

Coterra Energy Stock Up 3.5 %

Shares of NYSE:CTRA opened at $27.66 on Wednesday. The company’s fifty day moving average is $27.75 and its two-hundred day moving average is $25.66. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $29.95. The stock has a market capitalization of $21.13 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26.

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 given a $0.22 dividend. The ex-dividend date is Thursday, March 13th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.18%. Coterra Energy’s payout ratio is 58.28%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction that occurred 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 owns 126,770 shares in the company, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coterra Energy

Large investors have recently modified their holdings of the stock. Wellington Management Group LLP lifted its holdings in shares of Coterra Energy by 1.9% during the fourth quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company’s stock valued at $1,852,385,000 after purchasing an additional 1,318,754 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Coterra Energy by 5.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock valued at $599,356,000 after buying an additional 1,310,965 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Coterra Energy by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company’s stock worth $486,528,000 after buying an additional 96,059 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Coterra Energy by 5.0% in the fourth quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company’s stock worth $454,834,000 after buying an additional 845,609 shares during the period. Finally, Invesco Ltd. increased its position in shares of Coterra Energy by 9.0% in the fourth quarter. Invesco Ltd. now owns 12,232,484 shares of the company’s stock worth $312,418,000 after acquiring an additional 1,011,166 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

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.