Coterra Energy (NYSE:CTRA) Cut to Hold at Siebert Williams Shank

Siebert Williams Shank lowered shares of Coterra Energy (NYSE:CTRA) from a buy rating to a hold rating in a report released on Friday morning, MarketBeat.com reports.

A number of other equities research analysts have also commented on CTRA. TD Cowen lowered their price target on Coterra Energy from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Weiss Ratings raised shares of Coterra Energy from a “hold (c+)” rating to a “buy (b)” rating in a report on Monday, March 2nd. BMO Capital Markets upped their target price 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. Susquehanna increased their target price on shares of Coterra Energy from $32.00 to $34.00 and gave the company a “positive” rating in a report on Tuesday, February 3rd. Finally, Stephens raised their price target on shares of Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. Fifteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.95.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $31.12 on Friday. Coterra Energy has a 52 week low of $22.33 and a 52 week high of $32.67. The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average price of $28.51 and a 200-day moving average price of $26.11. The company has a market cap of $23.63 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 0.77 and a beta of 0.38.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.88 annualized dividend and a yield of 2.8%. Coterra Energy’s payout ratio is currently 38.60%.

Institutional Investors Weigh In On Coterra Energy

Several large investors have recently made changes to their positions in the business. Fideuram Asset Management Ireland dac purchased a new position in shares of Coterra Energy in the 4th quarter worth about $27,000. GoalVest Advisory LLC purchased a new stake in Coterra Energy during the fourth quarter worth about $28,000. Winnow Wealth LLC purchased a new stake in Coterra Energy during the third quarter worth about $29,000. Atlantic Union Bankshares Corp bought a new stake in Coterra Energy in the third quarter worth about $29,000. Finally, Triumph Capital Management bought a new stake in Coterra Energy in the third quarter worth about $31,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

About Coterra Energy

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.