Coterra Energy (NYSE:CTRA) Reaches New 12-Month High – Should You Buy?

Coterra Energy Inc. (NYSE:CTRA) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $36.88 and last traded at $36.5610, with a volume of 1034441 shares. The stock had previously closed at $36.31.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Scotiabank restated a “sector perform” rating and set a $31.00 price objective on shares of Coterra Energy in a research note on Tuesday, February 3rd. Zacks Research upgraded Coterra Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 17th. UBS Group upped their price target on shares of Coterra Energy from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Piper Sandler increased their price objective on shares of Coterra Energy from $41.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Finally, Mizuho lifted their price objective on shares of Coterra Energy from $36.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.76.

Coterra Energy Stock Up 0.7%

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19. The firm has a 50 day simple moving average of $30.80 and a two-hundred day simple moving average of $27.08. The stock has a market cap of $27.77 billion, a P/E ratio of 16.01, a P/E/G ratio of 0.90 and a beta of 0.38.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Wednesday, March 11th. Coterra Energy’s payout ratio is currently 38.60%.

Hedge Funds Weigh In On Coterra Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd raised its position in shares of Coterra Energy by 37.1% during the 2nd quarter. XTX Topco Ltd now owns 50,479 shares of the company’s stock worth $1,281,000 after buying an additional 13,670 shares in the last quarter. J.W. Cole Advisors Inc. increased its stake in shares of Coterra Energy by 10.1% during the second quarter. J.W. Cole Advisors Inc. now owns 16,013 shares of the company’s stock valued at $406,000 after acquiring an additional 1,473 shares during the period. Choreo LLC raised its holdings in Coterra Energy by 21.2% during the second quarter. Choreo LLC now owns 24,596 shares of the company’s stock worth $624,000 after purchasing an additional 4,300 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in Coterra Energy by 1.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 860,863 shares of the company’s stock worth $21,849,000 after purchasing an additional 11,360 shares during the period. Finally, Loomis Sayles & Co. L P bought a new position in Coterra Energy during the 2nd quarter valued at $93,000. Institutional investors own 87.92% of the company’s stock.

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.