Coterra Energy Inc. (NYSE:CTRA) Given Consensus Recommendation of “Moderate Buy” by Analysts

Coterra Energy Inc. (NYSE:CTRA) has earned a consensus rating of “Moderate Buy” from the twenty-one brokerages that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $34.20.

Several equities analysts have commented on the company. Piper Sandler upped their price objective on Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Jefferies Financial Group upped their price target on shares of Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a report on Tuesday, February 4th. UBS Group decreased their price objective on shares of Coterra Energy from $37.00 to $33.00 and set a “buy” rating for the company in a report on Monday, April 7th. The Goldman Sachs Group upped their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley decreased their price target on shares of Coterra Energy from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th.

Insider Transactions at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the transaction, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the transaction, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at $3,086,856.26. The trade was a 19.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Coterra Energy

A number of large investors have recently made changes to their positions in CTRA. FMR LLC lifted its position in Coterra Energy by 11.7% during the 3rd quarter. FMR LLC now owns 911,700 shares of the company’s stock worth $21,835,000 after acquiring an additional 95,539 shares during the period. Kovitz Investment Group Partners LLC lifted its holdings in shares of Coterra Energy by 4.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 149,945 shares of the company’s stock worth $3,394,000 after purchasing an additional 5,877 shares during the period. EP Wealth Advisors LLC purchased a new stake in Coterra Energy in the third quarter valued at approximately $635,000. iA Global Asset Management Inc. increased its holdings in Coterra Energy by 32.8% in the 3rd quarter. iA Global Asset Management Inc. now owns 65,082 shares of the company’s stock worth $1,559,000 after buying an additional 16,087 shares during the period. Finally, National Bank of Canada FI increased its holdings in Coterra Energy by 315.7% in the 3rd quarter. National Bank of Canada FI now owns 854,377 shares of the company’s stock worth $20,462,000 after buying an additional 648,856 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Up 1.7 %

Shares of NYSE:CTRA opened at $25.13 on Monday. 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 business has a 50 day simple moving average of $27.38 and a two-hundred day simple moving average of $26.29. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $29.95. The firm has a market capitalization of $19.20 billion, a PE ratio of 15.14, a price-to-earnings-growth ratio of 0.59 and a beta of 0.47.

Coterra Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.22 dividend. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend was Thursday, March 13th. Coterra Energy’s payout ratio is currently 58.28%.

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.