Oppenheimer & Co. Inc. Boosts Holdings in Coterra Energy Inc. (NYSE:CTRA)

Oppenheimer & Co. Inc. raised its holdings in Coterra Energy Inc. (NYSE:CTRA) by 28.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 65,398 shares of the company’s stock after acquiring an additional 14,649 shares during the period. Oppenheimer & Co. Inc.’s holdings in Coterra Energy were worth $1,670,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. City State Bank purchased a new stake in Coterra Energy in the fourth quarter valued at $26,000. AdvisorNet Financial Inc boosted its holdings in Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after purchasing an additional 744 shares during the last quarter. MCF Advisors LLC increased its holdings in shares of Coterra Energy by 230.5% during the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares in the last quarter. R Squared Ltd purchased a new position in shares of Coterra Energy during the 4th quarter valued at approximately $32,000. Finally, Deseret Mutual Benefit Administrators increased its holdings in shares of Coterra Energy by 33.2% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company’s stock valued at $44,000 after purchasing an additional 429 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Trading Down 2.7 %

Shares of CTRA stock opened at $26.25 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The stock’s fifty day moving average is $27.47 and its two-hundred day moving average is $25.51. The firm has a market capitalization of $20.06 billion, a P/E ratio of 15.81, a PEG ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.35%. Coterra Energy’s dividend payout ratio is 58.28%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CTRA. Wells Fargo & Company lifted their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Jefferies Financial Group lifted their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, February 4th. UBS Group lifted their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Mizuho increased their price target on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Finally, Morgan Stanley increased their price target on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $33.47.

Coterra Energy Company Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.