Fintel reports that on June 27, 2023, JP Morgan upgraded their outlook for Coterra Energy (NYSE:CTRA) from Neutral to Overweight .
Analyst Price Forecast Suggests 30.67% Upside
As of June 1, 2023, the average one-year price target for Coterra Energy is 31.31. The forecasts range from a low of 25.25 to a high of $40.95. The average price target represents an increase of 30.67% from its latest reported closing price of 23.96.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Coterra Energy is 8,270MM, a decrease of 8.95%. The projected annual non-GAAP EPS is 4.32.
Coterra Energy Declares $0.20 Dividend
On May 3, 2023 the company declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Shareholders of record as of May 26, 2023 received the payment on June 9, 2023. Previously, the company paid $0.20 per share.
At the current share price of $23.96 / share, the stock’s dividend yield is 3.34%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.81%, the lowest has been 0.99%, and the highest has been 11.42%. The standard deviation of yields is 3.24 (n=235).
The current dividend yield is 0.15 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.40. 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 4.50%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1627 funds or institutions reporting positions in Coterra Energy. This is a decrease of 12 owner(s) or 0.73% in the last quarter. Average portfolio weight of all funds dedicated to CTRA is 0.28%, a decrease of 1.82%. Total shares owned by institutions decreased in the last three months by 2.32% to 843,689K shares. The put/call ratio of CTRA is 0.34, indicating a bullish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 70,554K shares representing 9.31% ownership of the company. In it’s prior filing, the firm reported owning 81,311K shares, representing a decrease of 15.25%. The firm decreased its portfolio allocation in CTRA by 14.35% over the last quarter.
Aristotle Capital Management holds 40,575K shares representing 5.36% ownership of the company. In it’s prior filing, the firm reported owning 41,258K shares, representing a decrease of 1.68%. The firm decreased its portfolio allocation in CTRA by 3.07% over the last quarter.
Capital World Investors holds 27,171K shares representing 3.59% ownership of the company. In it’s prior filing, the firm reported owning 32,513K shares, representing a decrease of 19.66%. The firm decreased its portfolio allocation in CTRA by 19.07% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 23,179K shares representing 3.06% ownership of the company. In it’s prior filing, the firm reported owning 22,755K shares, representing an increase of 1.83%. The firm decreased its portfolio allocation in CTRA by 6.06% over the last quarter.
XLE – The Energy Select Sector SPDR Fund holds 22,660K shares representing 2.99% ownership of the company. In it’s prior filing, the firm reported owning 22,823K shares, representing a decrease of 0.72%. The firm increased its portfolio allocation in CTRA by 6.63% 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.
Key filings for this company:
This story originally appeared on Fintel.
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