Cwm LLC Purchases 479,006 Shares of Coterra Energy Inc. $CTRA

Key Points

• Cwm LLC increased its stake in Coterra Energy (NYSE:CTRA) by 205.7% in Q4, buying an additional 479,006 shares
• Research analysts have mostly raised targets recently, and MarketBeat shows a consensus rating of Moderate Buy with a consensus target price of $36.83.
• Coterra pays a quarterly dividend of $0.22 (annualized $0.88), representing a yield of about 2.8% and a payout ratio of 38.6%.

Cwm LLC increased its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 205.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 711,903 shares of the company's stock after purchasing an additional 479,006 shares during the quarter. Cwm LLC owned approximately 0.09% of Coterra Energy worth $18,737,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. QRG Capital Management Inc. lifted its holdings in shares of Coterra Energy by 67.0% during the third quarter. QRG Capital Management Inc. now owns 143,188 shares of the company's stock valued at $3,386,000 after acquiring an additional 57,461 shares during the period. Summit Global Investments bought a new position in shares of Coterra Energy during the third quarter valued at $1,086,000. Ashton Thomas Private Wealth LLC lifted its holdings in shares of Coterra Energy by 60.7% during the third quarter. Ashton Thomas Private Wealth LLC now owns 273,650 shares of the company's stock valued at $6,472,000 after acquiring an additional 103,381 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Coterra Energy by 36.2% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 830,392 shares of the company's stock valued at $19,639,000 after acquiring an additional 220,688 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Coterra Energy by 4.0% during the third quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company's stock valued at $2,341,151,000 after acquiring an additional 3,781,606 shares during the period. 87.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Jefferies Financial Group lifted their price objective on Coterra Energy from $28.00 to $33.00 and gave the company a "hold" rating in a report on Monday, April 13th. Susquehanna lifted their price target on Coterra Energy from $32.00 to $34.00 and gave the company a "positive" rating in a report on Tuesday, February 3rd. Roth Mkm lifted their price target on Coterra Energy from $28.00 to $32.00 and gave the company a "neutral" rating in a report on Wednesday. Raymond James Financial lifted their price target on Coterra Energy from $34.00 to $41.00 in a report on Monday, March 9th. Finally, JPMorgan Chase & Co. cut their price target on Coterra Energy from $34.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.83.

Coterra Energy Stock Performance

Coterra Energy stock opened at $30.89 on Friday. The stock has a 50-day simple moving average of $32.44 and a 200 day simple moving average of $28.04. The company has a quick ratio of 1.16, a current ratio of 1.19 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. The stock has a market capitalization of $23.46 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 0.49 and a beta of 0.29.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Wednesday, March 11th. Coterra Energy's payout ratio is currently 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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