Delta Global Management LP Makes New $2.43 Million Investment in Coterra Energy Inc. $CTRA

Delta Global Management LP bought a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 102,585 shares of the company’s stock, valued at approximately $2,426,000.

Several other hedge funds and other institutional investors have also modified their holdings of CTRA. QRG Capital Management Inc. grew its stake in Coterra Energy by 67.0% during the 3rd quarter. QRG Capital Management Inc. now owns 143,188 shares of the company’s stock valued at $3,386,000 after acquiring an additional 57,461 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in shares of Coterra Energy by 60.7% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 273,650 shares of the company’s stock valued at $6,472,000 after purchasing an additional 103,381 shares during the period. Summit Global Investments purchased a new stake in shares of Coterra Energy in the third quarter worth approximately $1,086,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Coterra Energy by 36.2% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 830,392 shares of the company’s stock worth $19,639,000 after purchasing an additional 220,688 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Coterra Energy by 4.0% during the third quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after purchasing an additional 3,781,606 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Price Performance

NYSE CTRA opened at $32.40 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $24.60 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 0.80 and a beta of 0.37. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $32.71. The company has a 50 day moving average price of $29.14 and a two-hundred day moving average price of $26.43.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th will be issued a $0.22 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. Coterra Energy’s dividend payout ratio is currently 38.60%.

Analysts Set New Price Targets

Several research analysts have weighed in on CTRA shares. Jefferies Financial Group upped their price objective on shares of Coterra Energy from $26.00 to $28.00 in a research note on Monday, March 9th. Texas Capital lowered shares of Coterra Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Johnson Rice lowered their price target on shares of Coterra Energy from $38.00 to $37.00 in a report on Friday, December 5th. UBS Group upped their price target on shares of Coterra Energy from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Finally, BMO Capital Markets lifted their price objective on Coterra Energy from $32.00 to $35.00 and gave the company a “market perform” rating in a research report on Tuesday, March 3rd. Fourteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.43.

About Coterra Energy

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.