Coterra Energy Inc. (CTRA) to Issue Quarterly Dividend of $0.22 on March 27th

Coterra Energy Inc. (NYSE:CTRA) announced a quarterly dividend on Monday, February 24th, Wall Street Journal reports. Shareholders of record on Thursday, March 13th will be given a dividend of 0.22 per share on Thursday, March 27th. This represents a $0.88 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Thursday, March 13th. This is a 4.8% increase from Coterra Energy’s previous quarterly dividend of $0.21.

Coterra Energy has increased its dividend by an average of 23.6% per year over the last three years. Coterra Energy has a payout ratio of 24.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Coterra Energy to earn $3.13 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 28.1%.

Coterra Energy Stock Up 2.4 %

Shares of CTRA opened at $26.73 on Tuesday. The company has a market capitalization of $20.42 billion, a P/E ratio of 16.10, a PEG 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 has a one year low of $22.30 and a one year high of $29.95. The business’s 50 day simple moving average is $27.65 and its 200-day simple moving average is $25.60.

Analysts Set New Price Targets

CTRA has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Barclays boosted their target price on Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Jefferies Financial Group boosted their target price on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a report on Tuesday, February 4th. Susquehanna boosted their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, Piper Sandler boosted their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $33.80.

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.