Raymond James Keeps Outperform Rating on Coterra Energy (CTRA), Cuts PT to $34

Coterra Energy Inc. (NYSE:CTRA) is one of the best dividend stocks to buy. On September 11, Raymond James maintained an Outperform rating on Coterra but trimmed the price target from $38 to $34. The company has an uninterrupted 36-year track record of dividend payments.

In its 2025 guidance, Coterra sees capital spending rising around 7% to $2.3 billion and production climbing about 3% to 768 Mboe/d. Raymond James projects slightly higher figures, with output at 770.3 Mboe/d and capex at $2.31 billion.

In 2026, volumes are expected to come in at 795 Mboe/d (62% gas, 22% oil), with capex amounting to $2.33 billion. Raymond James believes Coterra’s reinvestment rate will stay below that of its industry competitors due to cost efficiency and debt reduction strategies.

Analysts expect the company to deliver free cash flow yields of close to 10% in 2025 and 11% in 2026, with EV/EBITDA values forecasted at 4.7x and 4.3x.

Coterra Energy Inc. (NYSE:CTRA) is an independent oil and gas company that explores and produces oil, gas, and natural gas liquids.

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