Oppenheimer Asset Management Inc. Has $15.56 Million Stock Holdings in Coterra Energy Inc. $CTRA

Key Points

• Oppenheimer Asset Management increased its stake in Coterra by 44.3% in Q4, acquiring an additional 181,646 shares to hold 591,342 shares worth $15.56 million (about 0.08% of the company).
• Coterra declared a quarterly dividend of $0.22 per share (paid March 25), equivalent to $0.88 annually with a 2.5% yield and a payout ratio of 38.6%.
• Analysts have been raising price targets recently and the stock carries a consensus rating of Moderate Buy with a $37.32 target, including notable targets of $42 (Morgan Stanley) and $46 (Wolfe Research).

Oppenheimer Asset Management Inc. boosted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 44.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 591,342 shares of the company's stock after purchasing an additional 181,646 shares during the period. Oppenheimer Asset Management Inc. owned about 0.08% of Coterra Energy worth $15,564,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Coterra Energy by 4.0% during the third quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company's stock worth $2,341,151,000 after purchasing an additional 3,781,606 shares during the period. Victory Capital Management Inc. lifted its stake in Coterra Energy by 2.5% during the third quarter. Victory Capital Management Inc. now owns 21,581,809 shares of the company's stock worth $510,410,000 after purchasing an additional 534,132 shares during the period. Davis Selected Advisers lifted its stake in Coterra Energy by 112.9% during the third quarter. Davis Selected Advisers now owns 19,883,481 shares of the company's stock worth $470,244,000 after purchasing an additional 10,545,340 shares during the period. Invesco Ltd. lifted its stake in Coterra Energy by 17.6% during the third quarter. Invesco Ltd. now owns 11,744,004 shares of the company's stock worth $277,746,000 after purchasing an additional 1,758,859 shares during the period. Finally, Bank of America Corp DE lifted its stake in Coterra Energy by 12.7% during the third quarter. Bank of America Corp DE now owns 10,230,655 shares of the company's stock worth $241,955,000 after purchasing an additional 1,150,623 shares during the period. Institutional investors own 87.92% of the company's stock.

Coterra Energy Stock Down 1.4%

Coterra Energy stock opened at $35.40 on Friday. Coterra Energy Inc. has a twelve month low of $22.33 and a twelve month high of $36.88. The company's 50-day moving average price is $32.90 and its two-hundred day moving average price is $28.67. The stock has a market cap 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. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were given a dividend of $0.22 per share. The ex-dividend date was Wednesday, March 11th. This represents a $0.88 annualized dividend and a dividend yield of 2.5%. Coterra Energy's dividend payout ratio (DPR) is currently 38.60%.

Analyst Ratings Changes

A number of research analysts have commented on CTRA shares. Scotiabank raised their price target on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. Morgan Stanley lifted their target price on shares of Coterra Energy from $28.00 to $42.00 and gave the company an "equal weight" rating in a research note on Tuesday. BMO Capital Markets increased their price objective on Coterra Energy from $32.00 to $35.00 and gave the company a "market perform" rating in a research report on Tuesday, March 3rd. Wolfe Research increased their price objective on Coterra Energy from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Monday, April 6th. Finally, Susquehanna increased their price objective on Coterra Energy from $34.00 to $40.00 and gave the company a "positive" rating in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently 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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