1834 Investment Advisors Co. Has $8.66 Million Position in Coterra Energy Inc. $CTRA

1834 Investment Advisors Co. cut its holdings in Coterra Energy Inc. (NYSE:CTRA) by 6.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 329,145 shares of the company’s stock after selling 24,266 shares during the period. Coterra Energy makes up approximately 1.1% of 1834 Investment Advisors Co.’s portfolio, making the stock its 23rd biggest position. 1834 Investment Advisors Co.’s holdings in Coterra Energy were worth $8,663,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Davis Selected Advisers grew its position in shares of Coterra Energy by 112.9% during the 3rd quarter. Davis Selected Advisers now owns 19,883,481 shares of the company’s stock worth $470,244,000 after buying an additional 10,545,340 shares during the period. Vanguard Group Inc. increased its stake in 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 purchasing an additional 3,781,606 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Coterra Energy by 287.7% during the third quarter. AQR Capital Management LLC now owns 4,573,111 shares of the company’s stock valued at $108,154,000 after purchasing an additional 3,393,697 shares during the period. HITE Hedge Asset Management LLC raised its holdings in shares of Coterra Energy by 308.9% during the third quarter. HITE Hedge Asset Management LLC now owns 2,362,900 shares of the company’s stock valued at $55,883,000 after purchasing an additional 1,784,967 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Coterra Energy by 17.6% during the 3rd quarter. Invesco Ltd. now owns 11,744,004 shares of the company’s stock worth $277,746,000 after purchasing an additional 1,758,859 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Down 0.1%

Coterra Energy stock opened at $33.50 on Monday. Coterra Energy Inc. has a fifty-two week low of $22.33 and a fifty-two week high of $36.88. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19. The firm’s 50-day simple moving average is $32.61 and its 200 day simple moving average is $28.42. The stock has a market cap of $25.44 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 0.49 and a beta of 0.29.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Wednesday, March 11th. Coterra Energy’s payout ratio is presently 38.60%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CTRA. Weiss Ratings upgraded Coterra Energy from a “hold (c+)” rating to a “buy (b)” rating in a report on Monday, March 2nd. Susquehanna increased their target price on Coterra Energy from $34.00 to $40.00 and gave the stock a “positive” rating in a report on Tuesday, April 21st. Morgan Stanley lifted their price target on shares of Coterra Energy from $28.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, March 27th. Mizuho boosted their price target on shares of Coterra Energy from $36.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. Finally, Zacks Research upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and an average target price of $37.13.

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.