Miller Global Investments LLC Makes New Investment in Coterra Energy Inc. $CTRA

Miller Global Investments LLC acquired a new stake in Coterra Energy Inc. (NYSE:CTRA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 24,866 shares of the company’s stock, valued at approximately $654,000.

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

Coterra Energy Stock Performance

CTRA stock opened at $33.92 on Friday. The stock’s 50 day simple moving average is $29.63 and its 200 day simple moving average is $26.59. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $34.67. The firm has a market cap of $25.76 billion, a P/E ratio of 14.88, a P/E/G ratio of 0.83 and a beta of 0.38. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24.

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 issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, March 11th. Coterra Energy’s dividend payout ratio is 38.60%.

Analyst Ratings Changes

Several equities analysts recently commented on CTRA shares. Wolfe Research boosted their price target on Coterra Energy from $33.00 to $40.00 in a research report on Tuesday, February 3rd. Barclays lifted their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday. UBS Group boosted their target price on shares of Coterra Energy from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Susquehanna raised their price target on shares of Coterra Energy from $32.00 to $34.00 and gave the company a “positive” rating in a report on Tuesday, February 3rd. Finally, Stephens lifted their price target on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.76.

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.