Ashton Thomas Private Wealth LLC Boosts Stake in Coterra Energy Inc. $CTRA

Key Points

• Ashton Thomas Private Wealth LLC increased its stake in Coterra Energy by 30.9% in Q4, acquiring an additional 84,623 shares to hold 358,273 shares valued at about $9.43 million.
• Coterra recently paid a quarterly dividend of $0.22 (annualized $0.88) for a 2.6% yield
• Wall Street sentiment is cautiously positive with an average rating of "Moderate Buy" and an average target price of $37.13 (1 Strong Buy, 16 Buy, 9 Hold).

Ashton Thomas Private Wealth LLC raised its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 30.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 358,273 shares of the company's stock after purchasing an additional 84,623 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in Coterra Energy were worth $9,430,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its position in Coterra Energy by 0.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company's stock worth $1,438,000 after purchasing an additional 398 shares during the period. KLCM Advisors Inc. raised its position in Coterra Energy by 4.2% in the 3rd quarter. KLCM Advisors Inc. now owns 9,855 shares of the company's stock worth $233,000 after purchasing an additional 400 shares during the period. Pinnacle Associates Ltd. raised its position in Coterra Energy by 2.8% in the 3rd quarter. Pinnacle Associates Ltd. now owns 15,336 shares of the company's stock worth $363,000 after purchasing an additional 415 shares during the period. Profund Advisors LLC raised its position in Coterra Energy by 1.4% in the 3rd quarter. Profund Advisors LLC now owns 30,969 shares of the company's stock worth $732,000 after purchasing an additional 418 shares during the period. Finally, AAFMAA Wealth Management & Trust LLC raised its position in Coterra Energy by 1.0% in the 3rd quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company's stock worth $1,017,000 after purchasing an additional 429 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

Shares of NYSE:CTRA opened at $33.50 on Monday. The firm has a market cap of $25.44 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 0.49 and a beta of 0.29. The firm's 50 day simple moving average is $32.61 and its 200-day simple moving average is $28.42. Coterra Energy Inc. has a one year low of $22.33 and a one year high of $36.88. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.6%. Coterra Energy's dividend payout ratio (DPR) is 38.60%.

Wall Street Analysts Forecast Growth

CTRA has been the topic of a number of recent analyst reports. Scotiabank increased their price objective on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. Barclays raised their target price on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an "overweight" rating in a research report on Monday, March 16th. Susquehanna raised their target price on shares of Coterra Energy from $34.00 to $40.00 and gave the stock a "positive" rating in a research report on Tuesday, April 21st. JPMorgan Chase & Co. reduced their target price on shares of Coterra Energy from $34.00 to $31.00 and set an "overweight" rating on the stock in a research report on Monday, January 12th. Finally, Texas Capital lowered shares of Coterra Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $37.13.

Coterra Energy 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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