Callan Family Office LLC Acquires New Holdings in Coterra Energy Inc. (NYSE:CTRA)

Callan Family Office LLC acquired a new stake in Coterra Energy Inc. (NYSE:CTRA) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 28,589 shares of the company’s stock, valued at approximately $730,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hartford Funds Management Co LLC raised its holdings in Coterra Energy by 45.2% in the 4th quarter. Hartford Funds Management Co LLC now owns 34,829 shares of the company’s stock valued at $890,000 after buying an additional 10,836 shares during the period. Ethos Financial Group LLC acquired a new position in Coterra Energy in the 4th quarter valued at about $610,000. Raymond James Financial Inc. acquired a new position in Coterra Energy in the 4th quarter valued at about $61,461,000. Arizona State Retirement System grew its position in Coterra Energy by 0.7% in the 4th quarter. Arizona State Retirement System now owns 214,724 shares of the company’s stock valued at $5,484,000 after acquiring an additional 1,503 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Coterra Energy in the 4th quarter valued at about $3,624,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on CTRA. Morgan Stanley lifted their target price on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Piper Sandler lifted their target price on Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday. Truist Financial boosted their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Barclays boosted their price objective on Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Finally, Raymond James boosted their price objective on Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.63.

Coterra Energy Price Performance

Coterra Energy stock opened at $26.10 on Friday. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The business has a 50 day simple moving average of $27.63 and a 200-day simple moving average of $25.57. The stock has a market capitalization of $19.94 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Thursday, March 13th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio is 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.