Fintel reports that on April 10, 2024, Barclays initiated coverage of Coterra Energy (NYSE:CTRA) with a Overweight recommendation.

Analyst Price Forecast Suggests 15.15% Upside

As of March 31, 2024, the average one-year price target for Coterra Energy is 32.10. The forecasts range from a low of 25.25 to a high of $40.95. The average price target represents an increase of 15.15% from its latest reported closing price of 27.88.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Coterra Energy is 7,692MM, an increase of 35.33%. 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 $27.88 / share, the stock's dividend yield is 3.01%.

Looking back five years and taking a sample every week, the average dividend yield has been 4.52%, the lowest has been 1.02%, and the highest has been 11.42%. The standard deviation of yields is 3.13 (n=233).

The current dividend yield is 0.48 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.39. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's 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 company's 3-Year dividend growth rate is 1.10%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 1718 funds or institutions reporting positions in Coterra Energy. This is an increase of 104 owner(s) or 6.44% in the last quarter. Average portfolio weight of all funds dedicated to CTRA is 0.27%, a decrease of 15.00%. Total shares owned by institutions decreased in the last three months by 2.25% to 762,580K shares. The put/call ratio of CTRA is 0.52, indicating a bullish outlook.

What are Other Shareholders Doing?

Wellington Management Group Llp holds 54,564K shares representing 7.26% ownership of the company. In it's prior filing, the firm reported owning 61,812K shares, representing a decrease of 13.28%. The firm decreased its portfolio allocation in CTRA by 88.84% over the last quarter.

Aristotle Capital Management holds 36,448K shares representing 4.85% ownership of the company. In it's prior filing, the firm reported owning 38,270K shares, representing a decrease of 5.00%. The firm decreased its portfolio allocation in CTRA by 18.15% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 22,491K shares representing 2.99% ownership of the company. In it's 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.

Geode Capital Management holds 19,070K shares representing 2.54% ownership of the company. In it's prior filing, the firm reported owning 18,729K shares, representing an increase of 1.79%. The firm decreased its portfolio allocation in CTRA by 15.66% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 18,372K shares representing 2.44% ownership of the company. In it's prior filing, the firm reported owning 18,201K shares, representing an increase of 0.93%. The firm decreased its portfolio allocation in CTRA by 15.88% 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.