QRG Capital Management Inc. Boosts Position in Coterra Energy Inc. (NYSE:CTRA)

QRG Capital Management Inc. increased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 7.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 66,455 shares of the company’s stock after acquiring an additional 4,806 shares during the quarter. QRG Capital Management Inc.’s holdings in Coterra Energy were worth $1,697,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CTRA. Wellington Management Group LLP lifted its stake in Coterra Energy by 28.4% in the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after buying an additional 15,736,247 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Coterra Energy by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after buying an additional 305,626 shares during the last quarter. Geode Capital Management LLC lifted its stake in Coterra Energy by 0.7% in the third quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock valued at $453,628,000 after buying an additional 128,397 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Coterra Energy by 1.2% in the third quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock valued at $406,266,000 after buying an additional 195,966 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its stake in Coterra Energy by 5.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock valued at $128,085,000 after buying an additional 284,106 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Up 2.3 %

Coterra Energy stock opened at $27.01 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The firm has a market capitalization of $20.64 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The stock’s fifty day moving average is $27.47 and its two-hundred day moving average is $25.50.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $0.22 dividend. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.88 annualized dividend and a yield of 3.26%. Coterra Energy’s dividend payout ratio is 58.28%.

Analyst Upgrades and Downgrades

CTRA has been the subject of a number of research reports. Barclays boosted their price objective on Coterra Energy from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Mizuho upped their price target on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Piper Sandler upped their price target on Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Morgan Stanley upped their price target on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group upped their price target on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.47.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the sale, the senior vice president now owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is owned by corporate insiders.

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.