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

AMF Tjanstepension AB acquired a new stake in Coterra Energy Inc. (NYSE:CTRA) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 302,171 shares of the company’s stock, valued at approximately $7,727,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CTRA. City State Bank acquired a new stake in shares of Coterra Energy in the 4th quarter valued at $26,000. AdvisorNet Financial Inc raised its holdings in shares of Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after purchasing an additional 744 shares in the last quarter. MCF Advisors LLC raised its holdings in shares of Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Coterra Energy in the 4th quarter valued at $32,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of Coterra Energy in the 4th quarter valued at $43,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. The Goldman Sachs Group increased their target price 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. Raymond James increased their target price on shares of Coterra Energy from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Morgan Stanley increased their target price on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Truist Financial increased their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Susquehanna increased their target price on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average price target of $33.63.

Coterra Energy Stock Up 2.3 %

Shares of NYSE:CTRA opened at $26.10 on Friday. 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 firm’s 50-day simple moving average is $27.63 and its 200-day simple moving average is $25.57. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

Coterra Energy Increases Dividend

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

Coterra Energy Company Profile

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.