Coterra Energy (NYSE:CTRA) Reaches New 12-Month High on Analyst Upgrade

Coterra Energy Inc. (NYSE:CTRA) shares reached a new 52-week high on Monday after Scotiabank upgraded the stock to a hold rating. The company traded as high as $36.88 and last traded at $36.5610, with a volume of 1034441 shares trading hands. The stock had previously closed at $36.31.

CTRA has been the topic of a number of other reports. Roth Mkm set a $28.00 price target on shares of Coterra Energy and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. Mizuho boosted their price objective on shares of Coterra Energy from $36.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Weiss Ratings raised shares of Coterra Energy from a “hold (c+)” rating to a “buy (b)” rating in a report on Monday, March 2nd. Citigroup lifted their target price on Coterra Energy from $32.00 to $42.00 and gave the company a “buy” rating in a research note on Monday. Finally, Johnson Rice lowered their target price on Coterra Energy from $38.00 to $37.00 in a report on Friday, December 5th. Fifteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.09.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CTRA. Rockefeller Capital Management L.P. lifted its holdings in Coterra Energy by 25.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 199,129 shares of the company’s stock worth $5,241,000 after purchasing an additional 39,886 shares during the period. Advisortrust Partners LLC bought a new position in Coterra Energy in the 4th quarter valued at about $318,000. Corient Private Wealth LLC increased its stake in Coterra Energy by 9.5% during the 4th quarter. Corient Private Wealth LLC now owns 193,934 shares of the company’s stock valued at $5,104,000 after buying an additional 16,850 shares during the period. Hsbc Holdings PLC raised its position in shares of Coterra Energy by 17.4% during the 4th quarter. Hsbc Holdings PLC now owns 2,108,345 shares of the company’s stock worth $55,450,000 after buying an additional 312,673 shares in the last quarter. Finally, Rehmann Capital Advisory Group bought a new stake in shares of Coterra Energy during the 4th quarter worth about $293,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Down 2.1%

The business’s 50 day moving average price is $31.18 and its two-hundred day moving average price is $27.24. The company has a market capitalization of $26.68 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 0.93 and a beta of 0.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Wednesday, March 11th. Coterra Energy’s dividend payout ratio is 38.60%.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.