DAVENPORT & Co LLC Lowers Position in Coterra Energy Inc. $CTRA

DAVENPORT & Co LLC trimmed its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 6.7% during the 4th quarter, Holdings Channel reports. The fund owned 667,497 shares of the company’s stock after selling 47,867 shares during the period. DAVENPORT & Co LLC’s holdings in Coterra Energy were worth $17,569,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CTRA. Vanguard Group Inc. raised its holdings in shares of Coterra Energy by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock valued at $2,341,151,000 after purchasing an additional 3,781,606 shares in the last quarter. State Street Corp boosted its stake in shares of Coterra Energy by 0.9% during the second quarter. State Street Corp now owns 45,588,319 shares of the company’s stock valued at $1,157,032,000 after purchasing an additional 386,526 shares in the last quarter. Victory Capital Management Inc. increased its holdings 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 valued at $510,410,000 after buying an additional 534,132 shares during the period. Davis Selected Advisers increased its holdings in Coterra Energy by 112.9% during the third quarter. Davis Selected Advisers now owns 19,883,481 shares of the company’s stock valued at $470,244,000 after buying an additional 10,545,340 shares during the period. Finally, Schroder Investment Management Group raised its stake in Coterra Energy by 1.1% in the second quarter. Schroder Investment Management Group now owns 13,575,101 shares of the company’s stock worth $344,536,000 after buying an additional 141,830 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Up 0.4%

NYSE:CTRA opened at $35.18 on Thursday. The stock has a market capitalization of $26.71 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 0.87 and a beta of 0.38. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $35.32. 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 firm has a 50 day moving average of $30.39 and a 200 day moving average of $26.89.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th were issued a dividend of $0.22 per share. 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 currently 38.60%.

Analysts Set New Price Targets

A number of analysts have weighed in on CTRA shares. Jefferies Financial Group upped their target price on Coterra Energy from $26.00 to $28.00 in a report on Monday, March 9th. Roth Mkm set a $28.00 price target on Coterra Energy and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. Mizuho upped their price objective on Coterra Energy from $36.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Siebert Williams Shank downgraded Coterra Energy from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. Finally, Stephens lifted their target price on Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $34.76.

About Coterra Energy

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.