PNC Financial Services Group Inc. grew its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 316,044 shares of the company's stock after acquiring an additional 14,669 shares during the period. PNC Financial Services Group Inc.'s holdings in Coterra Energy were worth $8,072,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in CTRA. City State Bank bought a new stake in shares of Coterra Energy during the 4th quarter valued at about $26,000. AdvisorNet Financial Inc lifted its stake 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 buying an additional 744 shares during the period. MCF Advisors LLC lifted its stake in Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company's stock valued at $32,000 after buying an additional 869 shares during the period. R Squared Ltd bought a new position in shares of Coterra Energy during the 4th quarter worth approximately $32,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of Coterra Energy during the 4th quarter worth approximately $43,000. 87.92% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research firms recently issued reports on CTRA. Jefferies Financial Group boosted their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the company a "hold" rating in a research report on Tuesday, February 4th. Barclays upped their price objective on shares of Coterra Energy from $36.00 to $37.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. The Goldman Sachs Group raised their target price on Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Mizuho upped their price target on Coterra Energy from $37.00 to $40.00 and gave the stock an "outperform" rating in a research note on Monday, December 16th. Finally, Citigroup increased their price target on Coterra Energy from $28.00 to $32.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Coterra Energy has a consensus rating of "Moderate Buy" and a consensus price target of $33.80.
Read Our Latest Stock Report on CTRA
Coterra Energy Stock Performance
NYSE CTRA opened at $26.87 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The company has a fifty day moving average price of $27.68 and a 200-day moving average price of $25.62. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The firm has a market cap of $20.53 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 0.59 and a beta of 0.26.
Coterra Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $0.22 dividend. This is a positive change from Coterra Energy's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.88 annualized dividend and a yield of 3.28%. Coterra Energy's dividend payout ratio (DPR) is 58.28%.
Coterra Energy Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding CTRA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coterra Energy Inc. (NYSE:CTRA - Free Report).
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