Fintel reports that on May 16, 2024, Truist Securities upgraded their outlook for Coterra Energy (NYSE:CTRA) from Hold to Buy.
Analyst Price Forecast Suggests 20.36% Upside
As of May 8, 2024, the average one-year price target for Coterra Energy is 33.47. The forecasts range from a low of 27.27 to a high of $40.95. The average price target represents an increase of 20.36% from its latest reported closing price of 27.81.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Coterra Energy is 7,692MM, an increase of 40.26%. The projected annual non-GAAP EPS is 3.75.
Coterra Energy Declares $0.21 Dividend
On February 22, 2024 the company declared a regular quarterly dividend of $0.21 per share ($0.84 annualized). Shareholders of record as of March 14, 2024 received the payment on March 28, 2024. Previously, the company paid $0.20 per share.
At the current share price of 27.81 / share, the stocks dividend yield is {1}%.
The current dividend yield is 0.50 standard deviations below the historical average.
Additionally, the companys dividend payout ratio is {0}. The payout ratio tells us how much of a companys income is paid out in dividends. A payout ratio of one (1.0) means 100% of the companys income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The companys 3-Year dividend growth rate is {0}%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1,673 funds or institutions reporting positions in Coterra Energy. This is an increase of 5 owner(s) or 0.30% in the last quarter. Average portfolio weight of all funds dedicated to CTRA is 0.27%, an increase of 8.99%. Total shares owned by institutions decreased in the last three months by 0.99% to 751,886K shares. 
The put/call ratio of CTRA is 0.70, indicating a bullish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 45,753K shares representing 6.15% ownership of the company. In its prior filing, the firm reported owning 54,564K shares , representing a decrease of 19.26%. The firm decreased its portfolio allocation in CTRA by 87.63% over the last quarter.
Aristotle Capital Management holds 35,821K shares representing 4.81% ownership of the company. In its prior filing, the firm reported owning 36,448K shares , representing a decrease of 1.75%. The firm increased its portfolio allocation in CTRA by 1.78% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 22,491K shares representing 3.02% ownership of the company. In its prior filing, the firm reported owning 22,339K shares , representing an increase of 0.67%. The firm decreased its portfolio allocation in CTRA by 15.12% over the last quarter.
Charles Schwab Investment Management holds 21,397K shares representing 2.88% ownership of the company. In its prior filing, the firm reported owning 16,050K shares , representing an increase of 24.99%. The firm increased its portfolio allocation in CTRA by 18.71% over the last quarter.
Geode Capital Management holds 18,475K shares representing 2.48% ownership of the company. In its prior filing, the firm reported owning 19,070K shares , representing a decrease of 3.22%. The firm decreased its portfolio allocation in CTRA by 6.45% over the last quarter.
Coterra Energy Background Information
(This description is provided by the company.)
Coterra is a premier, diversified energy company based in Houston, Texas. The company strives to be a leading producer, delivering returns with a commitment to sustainability leadership.
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