Coterra Energy Inc. $CTRA Stake Increased by Board of the Pension Protection Fund

Board of the Pension Protection Fund boosted its stake in Coterra Energy Inc. (NYSE:CTRA – Free Report) by 70.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,200 shares of the company’s stock after acquiring an additional 24,400 shares during the period. Board of the Pension Protection Fund’s holdings in Coterra Energy were worth $1,558,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CTRA. QRG Capital Management Inc. raised its stake in shares of Coterra Energy by 67.0% in the 3rd quarter. QRG Capital Management Inc. now owns 143,188 shares of the company’s stock valued at $3,386,000 after purchasing an additional 57,461 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its stake in Coterra Energy by 60.7% in the third quarter. Ashton Thomas Private Wealth LLC now owns 273,650 shares of the company’s stock worth $6,472,000 after purchasing an additional 103,381 shares in the last quarter. Summit Global Investments bought a new stake in Coterra Energy in the third quarter valued at about $1,086,000. Mitsubishi UFJ Trust & Banking Corp raised its stake in Coterra Energy by 36.2% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 830,392 shares of the company’s stock valued at $19,639,000 after buying an additional 220,688 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Coterra Energy by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after buying an additional 3,781,606 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CTRA. JPMorgan Chase & Co. decreased their target price on Coterra Energy from $34.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Texas Capital lowered Coterra Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Zacks Research upgraded Coterra Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Wolfe Research lifted their price objective on shares of Coterra Energy from $33.00 to $40.00 in a report on Tuesday, February 3rd. Finally, Barclays boosted their target price on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $34.76.

Read Our Latest Report on CTRA

Coterra Energy Stock Up 1.4%

Shares of Coterra Energy stock opened at $33.92 on Friday. The stock has a market capitalization of $25.76 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 0.83 and a beta of 0.38. Coterra Energy Inc. has a twelve month low of $22.33 and a twelve month high of $34.67. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24. The business’s 50 day simple moving average is $29.63 and its 200-day simple moving average is $26.59.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.88 annualized dividend and a yield of 2.6%. Coterra Energy’s dividend payout ratio (DPR) is currently 38.60%.

About Coterra Energy

(Free Report)

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.

Further Reading

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