Coterra Energy Inc. $CTRA Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group trimmed its stake in Coterra by 2.8% in Q4, selling 2,789,159 shares and leaving it with 96,202,408 shares (about 12.64% of the company) valued at roughly $2.53 billion.
• Coterra announced a quarterly dividend of $0.22 per share (paid Mar. 25; ex-dividend/record Mar. 11), equal to a $0.88 annualized payout and a 2.5% yield with a 38.6% payout ratio.
• Wall Street consensus is "Moderate Buy" with an average price target of $37.32; the stock trades at a P/E of 15.67 and a market cap of about $27.1 billion, near its 12‑month high of $36.88.

Vanguard Group Inc. lowered its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 96,202,408 shares of the company's stock after selling 2,789,159 shares during the quarter. Vanguard Group Inc. owned approximately 12.64% of Coterra Energy worth $2,532,047,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its position in Coterra Energy by 2.5% during the third 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 during the last quarter. Davis Selected Advisers boosted its position in Coterra Energy by 112.9% during the third quarter. Davis Selected Advisers now owns 19,883,481 shares of the company's stock worth $470,244,000 after acquiring an additional 10,545,340 shares during the last quarter. Invesco Ltd. boosted its position in Coterra Energy by 17.6% during the third quarter. Invesco Ltd. now owns 11,744,004 shares of the company's stock worth $277,746,000 after acquiring an additional 1,758,859 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Coterra Energy by 12.7% in the 3rd quarter. Bank of America Corp DE now owns 10,230,655 shares of the company's stock valued at $241,955,000 after purchasing an additional 1,150,623 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Coterra Energy by 34.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,865,527 shares of the company's stock valued at $162,370,000 after purchasing an additional 1,741,125 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company's stock.

Coterra Energy Stock Performance

NYSE:CTRA opened at $35.72 on Thursday. 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 firm has a market capitalization of $27.12 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 0.50 and a beta of 0.29. The firm's fifty day simple moving average is $32.81 and its 200 day simple moving average is $28.62. Coterra Energy Inc. has a twelve month low of $22.33 and a twelve month high of $36.88.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were issued a dividend of $0.22 per share. The ex-dividend date was Wednesday, March 11th. This represents a $0.88 annualized dividend and a dividend yield of 2.5%. Coterra Energy's payout ratio is presently 38.60%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CTRA shares. Texas Capital lowered shares of Coterra Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, March 9th. Jefferies Financial Group lifted their price target on shares of Coterra Energy from $28.00 to $33.00 and gave the company a "hold" rating in a report on Monday, April 13th. BMO Capital Markets lifted their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company a "market perform" rating in a report on Tuesday, March 3rd. Barclays lifted their price target on shares of Coterra Energy from $34.00 to $37.00 and gave the company an "overweight" rating in a report on Monday, March 16th. Finally, Zacks Research upgraded shares of Coterra Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $37.32.

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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