Coterra Energy Inc. $CTRA Shares Acquired by Mirabella Financial Services LLP

Key Points

• Mirabella Financial Services LLP increased its stake in Coterra Energy by 161.0% in Q3, adding 33,097 shares for a total of 53,656 shares valued at about $1.267 million.
• Institutional ownership is high at 87.92%; major funds like Vanguard now hold ~98.99 million shares (~$2.34 billion) and several large managers (State Street, Charles Schwab, Victory, Schroder) have recently increased their positions.
• Analyst sentiment is broadly positive with a consensus rating of "Moderate Buy" and an average price target of $34.76, alongside multiple recent price-target upgrades (e.g., Piper Sandler's $47 overweight call).

Mirabella Financial Services LLP increased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 161.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,656 shares of the company's stock after purchasing an additional 33,097 shares during the quarter. Mirabella Financial Services LLP's holdings in Coterra Energy were worth $1,267,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Coterra Energy by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company's stock valued at $2,341,151,000 after buying an additional 3,781,606 shares in the last quarter. State Street Corp grew its position in shares of Coterra Energy by 0.9% in the 2nd quarter. State Street Corp now owns 45,588,319 shares of the company's stock valued at $1,157,032,000 after buying an additional 386,526 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Coterra Energy by 5.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company's stock worth $680,197,000 after acquiring an additional 1,495,553 shares in the last quarter. Victory Capital Management Inc. raised its stake in Coterra Energy by 2.5% during the 3rd quarter. Victory Capital Management Inc. now owns 21,581,809 shares of the company's stock worth $510,410,000 after acquiring an additional 534,132 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in Coterra Energy by 1.1% in the second quarter. Schroder Investment Management Group now owns 13,575,101 shares of the company's stock valued at $344,536,000 after acquiring an additional 141,830 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Jefferies Financial Group upped their price objective on shares of Coterra Energy from $26.00 to $28.00 in a research note on Monday, March 9th. Piper Sandler lifted their target price on Coterra Energy from $41.00 to $47.00 and gave the stock an "overweight" rating in a research report on Thursday, March 12th. BMO Capital Markets boosted their target price on Coterra Energy from $32.00 to $35.00 and gave the company a "market perform" rating in a report on Tuesday, March 3rd. Zacks Research raised Coterra Energy from a "strong sell" rating to a "hold" rating in a research report on Tuesday. Finally, Wolfe Research raised their price target on Coterra Energy from $33.00 to $40.00 in a research note on Tuesday, February 3rd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $34.76.

Coterra Energy Trading Up 1.4%

Shares of Coterra Energy stock opened at $33.92 on Friday. Coterra Energy Inc. has a 1 year low of $22.33 and a 1 year high of $34.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19. The company has a market capitalization of $25.76 billion, a P/E ratio of 14.88, a PEG ratio of 0.83 and a beta of 0.38. The company's fifty day moving average is $29.63 and its two-hundred day moving average is $26.59.

Coterra Energy Announces Dividend

The firm also recently announced 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. The ex-dividend date is Wednesday, March 11th. This represents a $0.88 annualized dividend and a dividend yield of 2.6%. Coterra Energy's dividend payout ratio is 38.60%.

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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