Board of the Pension Protection Fund Grows Stock Holdings in Coterra Energy Inc. $CTRA

Board of the Pension Protection Fund grew its holdings in Coterra Energy Inc. (NYSE:CTRA) by 70.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,200 shares of the company’s stock after acquiring an additional 24,400 shares during the period. Board of the Pension Protection Fund’s holdings in Coterra Energy were worth $1,558,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CTRA. GoalVest Advisory LLC purchased a new stake in Coterra Energy during the 4th quarter worth $28,000. Winnow Wealth LLC purchased a new position in Coterra Energy in the third quarter valued at about $29,000. Atlantic Union Bankshares Corp purchased a new position in Coterra Energy in the third quarter valued at about $29,000. Triumph Capital Management acquired a new position in shares of Coterra Energy during the third quarter worth about $31,000. Finally, Bogart Wealth LLC lifted its stake in shares of Coterra Energy by 97.8% during the third quarter. Bogart Wealth LLC now owns 2,022 shares of the company’s stock worth $48,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Trading Up 1.4%

NYSE:CTRA opened at $33.92 on Friday. The stock has a market cap of $25.76 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 0.83 and a beta of 0.38. Coterra Energy Inc. has a one year low of $22.33 and a one year high of $34.67. 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 business’s 50-day simple moving average is $29.63 and its 200 day simple moving average is $26.59.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, March 11th. Coterra Energy’s dividend payout ratio is presently 38.60%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Barclays increased their target price on Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday. Johnson Rice decreased their price target on Coterra Energy from $38.00 to $37.00 in a report on Friday, December 5th. Texas Capital downgraded shares of Coterra Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Wolfe Research lifted their price objective on shares of Coterra Energy from $33.00 to $40.00 in a research note on Tuesday, February 3rd. Finally, Weiss Ratings raised shares of Coterra Energy from a “hold (c+)” rating to a “buy (b)” rating in a research report on Monday, March 2nd. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $34.76.

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.