Allspring Global Investments Holdings LLC Has $9.85 Million Stock Position in Coterra Energy Inc. $CTRA

Allspring Global Investments Holdings LLC boosted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 13.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 370,188 shares of the company’s stock after buying an additional 44,856 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Coterra Energy were worth $9,847,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its position in Coterra Energy by 0.7% in the third quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock worth $1,438,000 after buying an additional 398 shares during the last quarter. KLCM Advisors Inc. boosted its position in shares of Coterra Energy by 4.2% in the third quarter. KLCM Advisors Inc. now owns 9,855 shares of the company’s stock valued at $233,000 after acquiring an additional 400 shares during the period. Pinnacle Associates Ltd. lifted its stake in Coterra Energy by 2.8% in the 3rd quarter. Pinnacle Associates Ltd. now owns 15,336 shares of the company’s stock worth $363,000 after purchasing an additional 415 shares in the last quarter. Profund Advisors LLC boosted its holdings in Coterra Energy by 1.4% in the 3rd quarter. Profund Advisors LLC now owns 30,969 shares of the company’s stock valued at $732,000 after purchasing an additional 418 shares during the period. Finally, AAFMAA Wealth Management & Trust LLC boosted its stake in Coterra Energy by 1.0% during the third quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company’s stock valued at $1,017,000 after buying an additional 429 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Coterra Energy from $28.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, March 27th. Roth Mkm set a $28.00 target price on Coterra Energy and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Siebert Williams Shank lowered shares of Coterra Energy from a “buy” rating to a “hold” rating in a report on Friday, March 6th. Wolfe Research lifted their price objective on Coterra Energy from $33.00 to $40.00 in a research report on Tuesday, February 3rd. Finally, UBS Group boosted their price target on shares of Coterra Energy from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Sixteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and a consensus target price of $36.17.

Coterra Energy Stock Performance

CTRA opened at $34.58 on Monday. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $36.88. The company has a market cap of $26.26 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 0.61 and a beta of 0.29. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average is $31.62 and its 200 day moving average is $27.45.

Coterra Energy Dividend Announcement

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

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.