Coterra Energy Inc. $CTRA Shares Acquired by Howard Capital Management Inc.

Key Points

• Howard Capital Management increased its stake in Coterra Energy by 34.3% in Q4, buying an additional 38,605 shares to hold 151,172 shares worth about $3.98 million.
• Institutional investors own about 87.92% of Coterra, several funds recently boosted positions, and analysts give a consensus rating of “Moderate Buy” with an average target price of $36.43 as multiple firms raised price targets.
• Coterra recently paid a quarterly dividend of $0.22 (annualized $0.88, yield 2.6%, DPR 38.6%) and trades with a market cap of $25.39 billion and a P/E ratio of 14.66.

Howard Capital Management Inc. grew its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 34.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 151,172 shares of the company's stock after purchasing an additional 38,605 shares during the period. Howard Capital Management Inc.'s holdings in Coterra Energy were worth $3,979,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CTRA. EverSource Wealth Advisors LLC boosted its stake in shares of Coterra Energy by 72.5% in the second quarter. EverSource Wealth Advisors LLC now owns 5,537 shares of the company's stock worth $141,000 after buying an additional 2,328 shares during the last quarter. Jump Financial LLC boosted its stake in shares of Coterra Energy by 64.4% in the second quarter. Jump Financial LLC now owns 32,498 shares of the company's stock worth $825,000 after buying an additional 12,731 shares during the last quarter. Bank of Nova Scotia boosted its stake in shares of Coterra Energy by 31.9% in the second quarter. Bank of Nova Scotia now owns 104,835 shares of the company's stock worth $2,661,000 after buying an additional 25,343 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Coterra Energy by 9.6% in the second quarter. Daiwa Securities Group Inc. now owns 114,440 shares of the company's stock worth $2,904,000 after buying an additional 9,988 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Coterra Energy by 0.9% in the second quarter. State Street Corp now owns 45,588,319 shares of the company's stock worth $1,157,032,000 after buying an additional 386,526 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CTRA. Raymond James Financial upped their target price on Coterra Energy from $34.00 to $41.00 in a research note on Monday, March 9th. JPMorgan Chase & Co. lowered their target price on Coterra Energy from $34.00 to $31.00 and set an "overweight" rating on the stock in a research note on Monday, January 12th. Piper Sandler upped their target price on Coterra Energy from $41.00 to $47.00 and gave the stock an "overweight" rating in a research note on Thursday, March 12th. Roth Mkm set a $28.00 target price on Coterra Energy and gave the stock a "neutral" rating in a research note on Tuesday, February 3rd. Finally, Morgan Stanley increased their price target on Coterra Energy from $28.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Friday, March 27th. Sixteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Coterra Energy has a consensus rating of "Moderate Buy" and an average target price of $36.43.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $33.43 on Friday. The company has a market capitalization of $25.39 billion, a P/E ratio of 14.66, a P/E/G ratio of 0.54 and a beta of 0.29. The business's 50 day moving average is $32.22 and its two-hundred day moving average is $27.76. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $36.88.

Coterra Energy Announces Dividend

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

About Coterra Energy

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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