Coterra Energy Inc. (NYSE:CTRA) Announces Quarterly Dividend of $0.22

Coterra Energy Inc. (NYSE:CTRA) declared a quarterly dividend on Monday, February 24th, Wall Street Journal reports. Stockholders of record on Thursday, March 13th will be given a dividend of 0.22 per share on Thursday, March 27th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.21%. 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.

Coterra Energy has increased its dividend payment by an average of 23.6% per year over the last three years. Coterra Energy has a dividend payout ratio of 22.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Coterra Energy to earn $3.13 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 26.8%.

Coterra Energy Price Performance

Coterra Energy stock opened at $27.38 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The stock has a market cap of $20.17 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The firm has a 50-day moving average of $27.29 and a two-hundred day moving average of $25.45. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $29.95.

Insider Activity at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the sale, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Susquehanna increased their price objective on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Jefferies Financial Group raised their price target on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, February 4th. Piper Sandler upped their price objective on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Truist Financial raised their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Raymond James upped their price target on shares of Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.47.

About Coterra Energy

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.