Victory Capital Management Inc. Grows Stock Holdings in Coterra Energy Inc. $CTRA

Victory Capital Management Inc. lifted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,581,809 shares of the company’s stock after acquiring an additional 534,132 shares during the period. Victory Capital Management Inc. owned approximately 2.83% of Coterra Energy worth $510,410,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Focus Partners Advisor Solutions LLC acquired a new stake in Coterra Energy in the 3rd quarter valued at $389,000. American Century Companies Inc. lifted its stake in shares of Coterra Energy by 8.6% during the third quarter. American Century Companies Inc. now owns 6,456,503 shares of the company’s stock worth $152,696,000 after purchasing an additional 512,197 shares in the last quarter. Huntington National Bank boosted its position in shares of Coterra Energy by 145.6% in the third quarter. Huntington National Bank now owns 16,869 shares of the company’s stock worth $399,000 after buying an additional 10,000 shares during the period. Argent Trust Co lifted its position in Coterra Energy by 489.7% during the 3rd quarter. Argent Trust Co now owns 113,503 shares of the company’s stock worth $2,684,000 after acquiring an additional 94,254 shares in the last quarter. Finally, DNB Asset Management AS boosted its holdings in Coterra Energy by 5.3% in the 3rd quarter. DNB Asset Management AS now owns 157,264 shares of the company’s stock worth $3,719,000 after acquiring an additional 7,934 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Trading Up 3.1%

NYSE:CTRA opened at $31.53 on Tuesday. The company has a market cap of $24.01 billion, a PE ratio of 13.83, a P/E/G ratio of 0.76 and a beta of 0.37. The business’s 50 day moving average is $28.10 and its two-hundred day moving average is $25.89. The company has a quick ratio of 0.98, a current ratio of 1.41 and a debt-to-equity ratio of 0.24. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $32.67.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be paid a dividend of $0.22 per share. The ex-dividend date is Wednesday, March 11th. This represents a $0.88 annualized dividend and a yield of 2.8%. Coterra Energy’s payout ratio is presently 38.60%.

Analysts Set New Price Targets

A number of research analysts have recently commented on CTRA shares. Barclays reduced their target price on shares of Coterra Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 21st. Wolfe Research boosted their price objective on shares of Coterra Energy from $33.00 to $40.00 in a report on Tuesday, February 3rd. UBS Group raised their target price on Coterra Energy from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, December 12th. TD Cowen cut their price target on Coterra Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Finally, Siebert Williams Shank increased their price target on Coterra Energy from $32.00 to $35.00 and gave the company a “buy” rating in a report on Monday, January 26th. Fifteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.48.

Coterra Energy Profile

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.