71,014 Shares in Coterra Energy Inc. $CTRA Bought by BW Gestao de Investimentos Ltda.

Key Points

• BW Gestao de Investimentos Ltda. opened a new position in Coterra Energy (NYSE:CTRA) in Q3 by buying 71,014 shares, valued at about $1.679 million.
• Large institutions are heavily invested—Vanguard now owns ~98.99 million shares after adding 3.78 million in Q3, and overall institutional/hedge fund ownership is approximately 87.92%.
• Coterra pays a quarterly dividend of $0.22 per share (annualized $0.88, ~2.8% yield; ex-dividend date March 11) and carries a consensus "Moderate Buy" analyst rating with a $34 price target.

BW Gestao de Investimentos Ltda. acquired a new position in Coterra Energy Inc. (NYSE:CTRA - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 71,014 shares of the company's stock, valued at approximately $1,679,000.

Several other institutional investors also recently made changes to their positions in the stock. Davis Selected Advisers purchased a new position in shares of Coterra Energy in the 2nd quarter valued at about $237,002,000. Vanguard Group Inc. lifted its stake in shares of Coterra Energy by 4.0% in the third quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company's stock valued at $2,341,151,000 after purchasing an additional 3,781,606 shares during the period. Bank of New York Mellon Corp boosted its holdings in Coterra Energy by 34.0% during the third quarter. Bank of New York Mellon Corp now owns 6,865,527 shares of the company's stock worth $162,370,000 after buying an additional 1,741,125 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Coterra Energy by 5.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company's stock worth $680,197,000 after buying an additional 1,495,553 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Coterra Energy during the second quarter worth about $29,149,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

NYSE:CTRA opened at $31.16 on Tuesday. 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 company has a market capitalization of $23.66 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 0.77 and a beta of 0.37. The firm has a 50-day moving average price of $28.61 and a two-hundred day moving average price of $26.16. Coterra Energy Inc. has a twelve month low of $22.33 and a twelve month high of $32.67.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, March 11th. Coterra Energy's dividend payout ratio (DPR) is 38.60%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. UBS Group increased their target price on shares of Coterra Energy from $33.00 to $38.00 and gave the company a "buy" rating in a report on Thursday, March 5th. Scotiabank reissued a "sector perform" rating and set a $31.00 price target on shares of Coterra Energy in a research note on Tuesday, February 3rd. Barclays lowered their price target on Coterra Energy from $35.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday, January 21st. Roth Mkm set a $28.00 price objective on Coterra Energy and gave the stock a "neutral" rating in a report on Tuesday, February 3rd. Finally, Wolfe Research boosted their target price on Coterra Energy from $33.00 to $40.00 in a research report on Tuesday, February 3rd. Fifteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.00.

Coterra Energy Company Profile

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.

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