Piper Sandler Increases Coterra Energy (NYSE:CTRA) Price Target to $37.00

Coterra Energy (NYSE:CTRA) had its price objective boosted by Piper Sandler from $34.00 to $37.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

CTRA has been the topic of a number of other research reports. Wells Fargo & Company upped their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group increased their price objective 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. Barclays raised their price target on Coterra Energy from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. UBS Group increased their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Morgan Stanley boosted their target price on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.63.

Coterra Energy Stock Up 2.3 %

CTRA stock opened at $26.10 on Thursday. The company has a market capitalization of $19.94 billion, a price-to-earnings ratio of 15.72, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The business’s 50 day moving average price is $27.63 and its two-hundred day moving average price is $25.57. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 3.37%. Coterra Energy’s payout ratio is 58.28%.

Institutional Trading of Coterra Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Private Trust Co. NA boosted its position in Coterra Energy by 20.0% in the 4th quarter. Private Trust Co. NA now owns 2,140 shares of the company’s stock valued at $55,000 after buying an additional 356 shares during the period. CENTRAL TRUST Co grew its position in Coterra Energy by 1.8% during the 4th quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock worth $559,000 after purchasing an additional 389 shares during the last quarter. Arkadios Wealth Advisors raised its stake in Coterra Energy by 3.8% during the 4th quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock valued at $288,000 after acquiring an additional 413 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Coterra Energy by 5.8% during the fourth quarter. Blue Trust Inc. now owns 7,620 shares of the company’s stock worth $182,000 after purchasing an additional 420 shares during the period. Finally, New York Life Investment Management LLC boosted its holdings in shares of Coterra Energy by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 99,584 shares of the company’s stock valued at $2,543,000 after acquiring an additional 421 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Company Profile

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.