Barclays PLC Increases Stake in Coterra Energy Inc. $CTRA

Barclays PLC raised its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 12.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,078,344 shares of the company’s stock after purchasing an additional 223,445 shares during the quarter. Barclays PLC owned about 0.27% of Coterra Energy worth $49,153,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. KCM Investment Advisors LLC raised its stake in shares of Coterra Energy by 15.1% in the second quarter. KCM Investment Advisors LLC now owns 8,882 shares of the company’s stock worth $225,000 after purchasing an additional 1,166 shares during the last quarter. Metis Global Partners LLC increased its holdings in Coterra Energy by 4.3% in the 2nd quarter. Metis Global Partners LLC now owns 40,609 shares of the company’s stock worth $1,031,000 after buying an additional 1,661 shares during the period. AE Wealth Management LLC raised its position in Coterra Energy by 15.0% during the 2nd quarter. AE Wealth Management LLC now owns 9,861 shares of the company’s stock worth $250,000 after buying an additional 1,285 shares during the last quarter. Aviva PLC raised its position in Coterra Energy by 1,943.1% during the 2nd quarter. Aviva PLC now owns 567,807 shares of the company’s stock worth $14,411,000 after buying an additional 540,016 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Coterra Energy by 10.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,474,728 shares of the company’s stock worth $37,429,000 after buying an additional 133,824 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $31.16 on Tuesday. The firm has a market cap of $23.66 billion, a PE ratio of 13.67, a PEG ratio of 0.77 and a beta of 0.37. The firm has a fifty day moving average of $28.61 and a 200 day moving average of $26.16. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19. Coterra Energy Inc. has a one year low of $22.33 and a one year high of $32.67.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, March 11th. Coterra Energy’s dividend payout ratio (DPR) is currently 38.60%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CTRA. Zacks Research lowered shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. TD Cowen lowered their price target on shares of Coterra Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. William Blair started coverage on Coterra Energy in a research report on Wednesday, November 26th. They set an “outperform” rating and a $36.00 price target on the stock. Piper Sandler lifted their price objective on Coterra Energy from $36.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 5th. Finally, UBS Group boosted their price objective on Coterra Energy from $33.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Fifteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

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.