Danske Bank A S Sells 59,373 Shares of Coterra Energy Inc. $CTRA

Key Points

• Danske Bank A/S cut its stake by 49.7%, selling 59,373 Coterra shares in Q4 and retaining 60,042 shares valued at about $1.58 million.
• Quarterly dividend of $0.22 was paid on March 25 (ex-dividend March 11), equal to $0.88 annualized and a 2.5% yield with a 38.6% payout ratio.
• Several analysts raised price targets (e.g., Citigroup to $42, Capital One to $46, Piper Sandler to $47), and the stock carries a consensus "Moderate Buy" rating with an average target of $37.32.

Danske Bank A S cut its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 49.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,042 shares of the company's stock after selling 59,373 shares during the quarter. Danske Bank A S's holdings in Coterra Energy were worth $1,580,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its stake in shares of Coterra Energy by 0.7% during the third quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company's stock valued at $1,438,000 after purchasing an additional 398 shares in the last quarter. KLCM Advisors Inc. boosted its stake in shares of Coterra Energy by 4.2% during the third quarter. KLCM Advisors Inc. now owns 9,855 shares of the company's stock valued at $233,000 after purchasing an additional 400 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in shares of Coterra Energy by 2.8% during the third quarter. Pinnacle Associates Ltd. now owns 15,336 shares of the company's stock valued at $363,000 after purchasing an additional 415 shares in the last quarter. Profund Advisors LLC boosted its stake in shares of Coterra Energy by 1.4% during the third quarter. Profund Advisors LLC now owns 30,969 shares of the company's stock valued at $732,000 after purchasing an additional 418 shares in the last quarter. Finally, AAFMAA Wealth Management & Trust LLC boosted its stake in shares of Coterra Energy by 1.0% during the third quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company's stock valued at $1,017,000 after purchasing an additional 429 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

Coterra Energy Trading Down 0.6%

CTRA opened at $35.63 on Wednesday. Coterra Energy Inc. has a fifty-two week low of $22.33 and a fifty-two week high of $36.88. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 1.16. The firm has a market capitalization of $27.06 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 0.53 and a beta of 0.32. The company's 50 day moving average price is $32.99 and its two-hundred day moving average price is $28.84.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were issued 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 payout ratio is presently 38.60%.

Analyst Ratings Changes

CTRA has been the topic of a number of recent research reports. Citigroup lifted their price target on Coterra Energy from $32.00 to $42.00 and gave the company a "buy" rating in a research note on Monday, March 30th. Zacks Research raised shares of Coterra Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 15th. Stephens boosted their target price on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an "overweight" rating in a report on Thursday, January 29th. Capital One Financial boosted their target price on shares of Coterra Energy from $37.00 to $46.00 and gave the stock an "overweight" rating in a report on Wednesday, March 25th. Finally, Piper Sandler boosted their target price on shares of Coterra Energy from $41.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, March 12th. One 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $37.32.

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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