Global Retirement Partners LLC raised its stake in shares of Coterra Energy Inc. (NYSE:CTRA – Free Report) by 45.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,321 shares of the company’s stock after acquiring an additional 2,933 shares during the period. Global Retirement Partners LLC’s holdings in Coterra Energy were worth $225,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in CTRA. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Coterra Energy during the first quarter worth about $1,267,000. D.A. Davidson & CO. acquired a new stake in Coterra Energy during the 1st quarter worth approximately $305,000. Yousif Capital Management LLC acquired a new position in shares of Coterra Energy in the first quarter worth $3,011,000. Raymond James Trust N.A. purchased a new position in Coterra Energy in the first quarter valued at $400,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in Coterra Energy during the 1st quarter worth about $3,218,000. 92.59% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on CTRA. Stifel Nicolaus boosted their price objective on Coterra Energy from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, July 24th. Truist Financial reduced their price objective on shares of Coterra Energy from $29.00 to $26.00 and set a “hold” rating on the stock in a report on Monday, July 24th. Citigroup raised Coterra Energy from a “sell” rating to a “neutral” rating and increased their target price for the company from $22.00 to $25.00 in a report on Wednesday, April 19th. Mizuho raised their target price on Coterra Energy from $38.00 to $39.00 in a research report on Friday, May 19th. Finally, Stephens reiterated an “overweight” rating and issued a $32.00 price target on shares of Coterra Energy in a research note on Tuesday. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Coterra Energy presently has a consensus rating of “Hold” and a consensus price target of $29.87.
Coterra Energy Stock Performance
Shares of CTRA stock opened at $28.28 on Thursday. The stock’s 50-day moving average price is $25.64 and its 200 day moving average price is $25.08. Coterra Energy Inc. has a 52-week low of $22.25 and a 52-week high of $32.47. The stock has a market capitalization of $21.42 billion, a PE ratio of 7.09, a price-to-earnings-growth ratio of 0.22 and a beta of 0.29. The company has a quick ratio of 1.61, a current ratio of 1.66 and a debt-to-equity ratio of 0.17.
Coterra Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be given a $0.20 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $0.80 dividend on an annualized basis and a yield of 2.83%. Coterra Energy’s dividend payout ratio (DPR) is 20.05%.
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 primarily focuses on the Marcellus Shale with approximately 183,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.
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