AMF Tjanstepension AB Acquires New Position in Coterra Energy Inc. (NYSE:CTRA)

AMF Tjanstepension AB acquired a new stake in Coterra Energy Inc. (NYSE:CTRA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 302,171 shares of the company’s stock, valued at approximately $7,727,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CTRA. Farther Finance Advisors LLC lifted its stake in shares of Coterra Energy by 19.5% in the third quarter. Farther Finance Advisors LLC now owns 8,155 shares of the company’s stock valued at $195,000 after purchasing an additional 1,333 shares during the period. Janney Montgomery Scott LLC raised its position in Coterra Energy by 0.5% during the third quarter. Janney Montgomery Scott LLC now owns 230,579 shares of the company’s stock worth $5,522,000 after acquiring an additional 1,207 shares during the last quarter. Avidian Wealth Enterprises LLC raised its position in Coterra Energy by 6.7% during the third quarter. Avidian Wealth Enterprises LLC now owns 8,358 shares of the company’s stock worth $200,000 after acquiring an additional 523 shares during the last quarter. Confluence Investment Management LLC raised its position in Coterra Energy by 8.4% during the third quarter. Confluence Investment Management LLC now owns 21,482 shares of the company’s stock worth $514,000 after acquiring an additional 1,662 shares during the last quarter. Finally, Summit Global Investments acquired a new position in Coterra Energy during the third quarter worth about $621,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Price Performance

Coterra Energy stock opened at $26.10 on Friday. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The firm has a 50 day moving average price of $27.63 and a 200 day moving average price of $25.57. The company has a market cap of $19.94 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.37%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, March 13th. Coterra Energy’s payout ratio is presently 58.28%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CTRA. UBS Group lifted their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Mizuho lifted their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Jefferies Financial Group lifted their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research report on Tuesday, February 4th. Piper Sandler lifted their target price on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, The Goldman Sachs Group boosted their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average price target of $33.63.

About Coterra Energy

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.