Coterra Energy (NYSE:CTRA) Reaches New 12-Month High - Here's What Happened

Key Points

• Coterra Energy hit a new 52-week high — shares reached $35.00 (last $34.912) on Tuesday, up about 3.4% with volume around 864,386 versus a prior close of $33.80.
• Analysts are broadly positive with a consensus rating of Moderate Buy (14 Buys, 9 Holds) and an average price target of $34.76, while Barclays raised its target to $37 and Weiss upgraded to Buy.
• Coterra announced a quarterly dividend of $0.22 (annualized $0.88, ~2.5% yield) and reports solid fundamentals — market cap ≈ $26.5B, P/E 15.3, PEG 0.84, debt/equity 0.24, and about 88% institutional ownership.

Coterra Energy Inc. (NYSE:CTRA - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $35.00 and last traded at $34.9120, with a volume of 864386 shares traded. The stock had previously closed at $33.80.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Zacks Research raised shares of Coterra Energy from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 17th. Jefferies Financial Group increased their target price on shares of Coterra Energy from $26.00 to $28.00 in a research note on Monday, March 9th. Siebert Williams Shank lowered shares of Coterra Energy from a "buy" rating to a "hold" rating in a research report on Friday, March 6th. Barclays upped their price target on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an "overweight" rating in a report on Monday, March 16th. Finally, Weiss Ratings upgraded Coterra Energy from a "hold (c+)" rating to a "buy (b)" rating in a research report on Monday, March 2nd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Coterra Energy currently has a consensus rating of "Moderate Buy" and an average price target of $34.76.

Coterra Energy Trading Up 3.4%

The firm has a market cap of $26.53 billion, a P/E ratio of 15.31, a PEG ratio of 0.84 and a beta of 0.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 1.16. The stock has a 50 day moving average of $29.99 and a 200 day moving average of $26.76.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, March 11th. Coterra Energy's dividend payout ratio (DPR) is currently 38.60%.

Institutional Trading of Coterra Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fideuram Asset Management Ireland dac purchased a new position in shares of Coterra Energy during the fourth quarter worth approximately $27,000. GoalVest Advisory LLC purchased a new stake in shares of Coterra Energy in the 4th quarter valued at $28,000. Winnow Wealth LLC purchased a new stake in shares of Coterra Energy in the 3rd quarter valued at $29,000. Atlantic Union Bankshares Corp bought a new position in shares of Coterra Energy during the 3rd quarter valued at $29,000. Finally, Triumph Capital Management purchased a new position in Coterra Energy in the 3rd quarter worth $31,000. Hedge funds and other 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.

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