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

Horizon Investments LLC lifted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 173.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CTRA. QRG Capital Management Inc. increased its stake in Coterra Energy by 67.0% during the third quarter. QRG Capital Management Inc. now owns 143,188 shares of the company’s stock worth $3,386,000 after acquiring an additional 57,461 shares during the last quarter. Summit Global Investments acquired a new stake in Coterra Energy during the third quarter worth about $1,086,000. Ashton Thomas Private Wealth LLC grew its stake in shares of Coterra Energy by 60.7% in the third quarter. Ashton Thomas Private Wealth LLC now owns 273,650 shares of the company’s stock valued at $6,472,000 after buying an additional 103,381 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Coterra Energy by 36.2% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 830,392 shares of the company’s stock valued at $19,639,000 after buying an additional 220,688 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Coterra Energy by 4.0% in the third quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock valued at $2,341,151,000 after buying an additional 3,781,606 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $35.89 on Tuesday. Coterra Energy Inc. has a fifty-two week low of $22.33 and a fifty-two week high of $36.88. The business has a 50 day moving average price of $32.90 and a two-hundred day moving average price of $28.75. 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 market cap of $27.25 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 0.52 and a beta of 0.32.

Coterra Energy Dividend Announcement

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

Wall Street Analyst Weigh In

CTRA has been the subject of a number of recent research reports. UBS Group increased their target price on Coterra Energy from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Citigroup increased their target price on Coterra Energy from $32.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, March 30th. TD Cowen lowered their target price on Coterra Energy from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Weiss Ratings upgraded Coterra Energy from a “hold (c+)” rating to a “buy (b)” rating in a research note on Monday, March 2nd. Finally, Susquehanna increased their target price on Coterra Energy from $34.00 to $40.00 and gave the company a “positive” rating in a research note on Tuesday, April 21st. One investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.