Coterra Energy (NYSE:CTRA) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Coterra Energy (NYSE:CTRA) from a hold rating to a strong-buy rating in a research note published on Wednesday,Zacks.com reports.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered their price objective on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. UBS Group boosted their price objective on shares of Coterra Energy from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Barclays 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 note on Monday, March 16th. Mizuho boosted their price objective on shares of Coterra Energy from $36.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Finally, BMO Capital Markets boosted their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the stock a “market perform” rating in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $36.83.

Coterra Energy Stock Up 1.2%

Coterra Energy stock opened at $31.99 on Wednesday. The firm has a market capitalization of $24.29 billion, a PE ratio of 14.03, a P/E/G ratio of 0.51 and a beta of 0.29. The company’s 50-day moving average is $32.43 and its 200-day moving average is $27.99. Coterra Energy has a fifty-two week low of $22.33 and a fifty-two week high of $36.88. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 1.16.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. Coterra Energy’s payout ratio is presently 38.60%.

Institutional Trading of Coterra Energy

Several hedge funds and other institutional investors have recently modified their holdings of CTRA. EverSource Wealth Advisors LLC boosted its holdings in shares of Coterra Energy by 72.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,537 shares of the company’s stock worth $141,000 after buying an additional 2,328 shares during the period. Jump Financial LLC boosted its holdings in shares of Coterra Energy by 64.4% during the 2nd quarter. Jump Financial LLC now owns 32,498 shares of the company’s stock worth $825,000 after buying an additional 12,731 shares during the period. Bank of Nova Scotia boosted its holdings in shares of Coterra Energy by 31.9% during the 2nd quarter. Bank of Nova Scotia now owns 104,835 shares of the company’s stock worth $2,661,000 after buying an additional 25,343 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Coterra Energy by 9.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 114,440 shares of the company’s stock worth $2,904,000 after buying an additional 9,988 shares during the period. Finally, Frontier Capital Management Co. LLC boosted its holdings in shares of Coterra Energy by 9.4% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 12,630 shares of the company’s stock worth $321,000 after buying an additional 1,085 shares during the period. Institutional investors own 87.92% of the company’s stock.

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.