Davis Selected Advisers Has $856.39 Million Stock Holdings in Coterra Energy Inc. $CTRA

Key Points

• Davis Selected Advisers increased its Coterra stake by 63.6% in Q4 to 32,537,508 shares (4.27% ownership), valued at $856.39 million, making it the firm's 11th-largest holding and 3.8% of its portfolio.
• Coterra has a market capitalization of about $26.9 billion, a P/E of 15.52, and recently paid a quarterly dividend of $0.22 (annualized $0.88) for a yield of ~2.5% with a 38.6% payout ratio.
• Analysts are broadly constructive with a MarketBeat consensus rating of "Moderate Buy" and a consensus target price of $37.32, though individual opinions range from Hold to Outperform with several recent target upgrades.

Davis Selected Advisers lifted its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 63.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,537,508 shares of the company's stock after purchasing an additional 12,654,027 shares during the period. Coterra Energy accounts for 3.8% of Davis Selected Advisers' portfolio, making the stock its 11th largest holding. Davis Selected Advisers owned 4.27% of Coterra Energy worth $856,387,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. GoalVest Advisory LLC acquired a new position in shares of Coterra Energy during the 4th quarter worth about $28,000. Winnow Wealth LLC acquired a new position in shares of Coterra Energy during the 3rd quarter worth about $29,000. Atlantic Union Bankshares Corp acquired a new position in Coterra Energy in the 3rd quarter valued at about $29,000. Triumph Capital Management acquired a new position in Coterra Energy in the 3rd quarter valued at about $31,000. Finally, City Holding Co. grew its stake in Coterra Energy by 144.4% in the 4th quarter. City Holding Co. now owns 1,222 shares of the company's stock valued at $32,000 after buying an additional 722 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

NYSE CTRA opened at $35.40 on Friday. 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 capitalization of $26.88 billion, a P/E ratio of 15.52, a P/E/G ratio of 0.53 and a beta of 0.33. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $36.88. The firm has a 50-day moving average price of $32.90 and a two-hundred day moving average price of $28.67.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th were issued a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. Coterra Energy's payout ratio is currently 38.60%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CTRA shares. Stephens upped their price target on shares of Coterra Energy from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Thursday, January 29th. Siebert Williams Shank lowered shares of Coterra Energy from a "buy" rating to a "hold" rating in a research note on Friday, March 6th. Wolfe Research upped their price target on shares of Coterra Energy from $45.00 to $46.00 and gave the company an "outperform" rating in a research note on Monday, April 6th. Piper Sandler upped their price target on shares of Coterra Energy from $41.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday, March 12th. Finally, Texas Capital lowered shares of Coterra Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $37.32.

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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