D.A. Davidson & CO. Increases Stake in Coterra Energy Inc. $CTRA

Key Points

• D.A. Davidson & Co. increased its position in Coterra Energy by 117.5% in Q4 and now owns 195,938 shares worth $5.157 million.
• Analysts have been raising targets and the stock carries a consensus rating of "Moderate Buy" with a consensus target price of $37.32 (notable upgrades include Citigroup to $42 and Wolfe Research to $46).
• Coterra announced a quarterly dividend of $0.22 (annualized $0.88) for a 2.5% yield, and the stock trades at a P/E of 15.67 with a market cap of $27.12 billion.

D.A. Davidson & CO. increased its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 117.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 195,938 shares of the company's stock after acquiring an additional 105,866 shares during the quarter. D.A. Davidson & CO.'s holdings in Coterra Energy were worth $5,157,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CTRA. GoalVest Advisory LLC purchased a new stake in Coterra Energy in the 4th quarter worth about $28,000. Winnow Wealth LLC purchased a new stake in Coterra Energy in the 3rd quarter worth about $29,000. Atlantic Union Bankshares Corp purchased a new stake in Coterra Energy in the 3rd quarter worth about $29,000. Triumph Capital Management purchased a new stake in Coterra Energy in the 3rd quarter worth about $31,000. Finally, City Holding Co. increased its holdings in Coterra Energy by 144.4% in the 4th quarter. City Holding Co. now owns 1,222 shares of the company's stock worth $32,000 after acquiring an additional 722 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CTRA. Citigroup lifted their price objective on Coterra Energy from $32.00 to $42.00 and gave the stock a "buy" rating in a report on Monday, March 30th. Weiss Ratings raised Coterra Energy from a "hold (c+)" rating to a "buy (b)" rating in a report on Monday, March 2nd. Wolfe Research lifted their price objective on Coterra Energy from $45.00 to $46.00 and gave the stock an "outperform" rating in a report on Monday, April 6th. TD Cowen decreased their price objective on Coterra Energy from $33.00 to $32.00 and set a "buy" rating for the company in a report on Tuesday, February 10th. Finally, Scotiabank raised their target price on Coterra Energy from $31.00 to $32.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Coterra Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.32.

Coterra Energy Stock Up 3.2%

Shares of NYSE CTRA opened at $35.72 on Thursday. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $36.88. The business has a 50-day simple moving average of $32.81 and a two-hundred day simple moving average of $28.62. The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 0.24. The company has a market cap of $27.12 billion, a P/E ratio of 15.67, a P/E/G ratio of 0.50 and a beta of 0.29.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th were paid a $0.22 dividend. The ex-dividend date was Wednesday, March 11th. This represents a $0.88 annualized dividend and a yield of 2.5%. Coterra Energy's dividend payout ratio (DPR) is currently 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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