Horizon Investments LLC Raises Stock Holdings in Coterra Energy Inc. $CTRA

Key Points

• Horizon Investments LLC increased its stake in Coterra Energy by 173.2% in Q4, owning 119,773 shares after buying 75,929 more, valued at approximately $3,152,000.
• Coterra recently paid a quarterly dividend of $0.22 (paid Mar 25; record/ex-dividend Mar 11), equal to $0.88 annually for a 2.5% yield and a 38.6% payout ratio.
• Analysts give Coterra a consensus rating of "Moderate Buy" with a consensus target of $37.32; the stock trades near $35.89 with a market cap of $27.25 billion and a P/E of 15.74.

Horizon Investments LLC grew its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 173.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,773 shares of the company's stock after buying an additional 75,929 shares during the quarter. Horizon Investments LLC's holdings in Coterra Energy were worth $3,152,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GoalVest Advisory LLC purchased a new stake in shares of Coterra Energy during the fourth quarter worth about $28,000. Winnow Wealth LLC purchased a new stake in shares of Coterra Energy during the third quarter worth about $29,000. Atlantic Union Bankshares Corp purchased a new stake in shares of Coterra Energy during the third quarter worth about $29,000. Triumph Capital Management purchased a new stake in shares of Coterra Energy during the third quarter worth about $31,000. Finally, City Holding Co. grew its position in shares of Coterra Energy by 144.4% during the fourth quarter. City Holding Co. now owns 1,222 shares of the company's stock worth $32,000 after purchasing an additional 722 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.

Coterra Energy Price Performance

NYSE:CTRA opened at $35.89 on Tuesday. The firm has a market capitalization of $27.25 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 0.52 and a beta of 0.32. Coterra Energy Inc. has a 1 year low of $22.33 and a 1 year high of $36.88. The business has a 50 day simple moving average of $32.90 and a 200-day simple moving average of $28.75. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 1.16.

Coterra Energy Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley increased their target price on Coterra Energy from $28.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 28th. TD Cowen cut their target price on Coterra Energy from $33.00 to $32.00 and set a "buy" rating for the company in a research report on Tuesday, February 10th. Stephens increased their target price on Coterra Energy from $33.00 to $34.00 and gave the stock an "overweight" rating in a research report on Thursday, January 29th. Siebert Williams Shank cut Coterra Energy from a "buy" rating to a "hold" rating in a research report on Friday, March 6th. Finally, Piper Sandler increased their target price on Coterra Energy from $41.00 to $47.00 and gave the stock an "overweight" rating in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, Coterra Energy currently 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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