RNC Capital Management LLC Grows Stock Holdings in Coterra Energy Inc. $CTRA

Key Points

• RNC Capital Management LLC increased its stake in Coterra Energy by 45% in Q4 to 1,847,261 shares (an added 572,944 shares), worth about $48.62 million and representing roughly 0.24% of Coterra and 2.2% of RNC's portfolio (its 21st largest holding).
• Analysts have a consensus rating of "Moderate Buy" on CTRA with a target price of $37.32, amid mixed recent analyst actions (e.g., Raymond James raised its target to $41 while JPMorgan cut theirs to $31).
• Coterra has a $27.25 billion market cap and a PE of 15.74, and it pays a quarterly dividend of $0.22 (annualized $0.88) for a 2.5% yield with a 38.6% payout ratio.

RNC Capital Management LLC boosted its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 45.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,847,261 shares of the company's stock after purchasing an additional 572,944 shares during the period. Coterra Energy comprises 2.2% of RNC Capital Management LLC's portfolio, making the stock its 21st largest holding. RNC Capital Management LLC owned about 0.24% of Coterra Energy worth $48,620,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GoalVest Advisory LLC purchased a new stake in Coterra Energy during the 4th quarter valued at $28,000. Winnow Wealth LLC purchased a new position in shares of Coterra Energy in the 3rd quarter worth $29,000. Atlantic Union Bankshares Corp bought a new stake in shares of Coterra Energy in the third quarter worth $29,000. Triumph Capital Management bought a new stake in shares of Coterra Energy in the third quarter worth $31,000. Finally, City Holding Co. increased its position in Coterra Energy by 144.4% during the fourth quarter. City Holding Co. now owns 1,222 shares of the company's stock valued at $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.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CTRA shares. Stephens raised 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. Raymond James Financial upped their price target on shares of Coterra Energy from $34.00 to $41.00 in a research report on Monday, March 9th. JPMorgan Chase & Co. dropped their price objective on shares of Coterra Energy from $34.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, January 12th. Zacks Research upgraded shares of Coterra Energy from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 15th. Finally, Texas Capital cut shares of Coterra Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $37.32.

Coterra Energy Stock Performance

NYSE:CTRA opened at $35.89 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19. The stock has a 50-day simple moving average of $32.90 and a two-hundred day simple moving average of $28.75. The firm has a market capitalization of $27.25 billion, a PE ratio of 15.74, a P/E/G ratio of 0.52 and a beta of 0.32. Coterra Energy Inc. has a 52-week low of $22.33 and a 52-week high of $36.88.

Coterra Energy Dividend Announcement

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

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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