Simplicity Wealth LLC Invests $216,000 in Coterra Energy Inc. (NYSE:CTRA)

Simplicity Wealth LLC bought a new position in Coterra Energy Inc. (NYSE:CTRA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,470 shares of the company’s stock, valued at approximately $216,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 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 worth $530,645,000 after acquiring an additional 305,626 shares during the period. Czech National Bank lifted its stake in Coterra Energy by 6.1% in the fourth quarter. Czech National Bank now owns 159,713 shares of the company’s stock worth $4,079,000 after acquiring an additional 9,115 shares during the period. Bourgeon Capital Management LLC lifted its position in Coterra Energy by 107.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock valued at $6,052,000 after buying an additional 122,487 shares during the period. Hartford Funds Management Co LLC purchased a new position in Coterra Energy during the third quarter valued at $575,000. Finally, M.E. Allison & CO. Inc. purchased a new position in Coterra Energy during the fourth quarter valued at $217,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

CTRA has been the subject of several recent research reports. Piper Sandler raised their price objective on Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Citigroup raised their price objective on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Mizuho raised their price objective on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Jefferies Financial Group raised their price objective on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research report on Tuesday, February 4th. Finally, Barclays raised their price objective on Coterra Energy from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.80.

Coterra Energy Price Performance

NYSE CTRA opened at $26.87 on Wednesday. The stock has a 50-day moving average of $27.68 and a 200 day moving average of $25.62. The company has a market capitalization of $20.53 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

Coterra Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.22 per share. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Thursday, March 13th. Coterra Energy’s payout ratio is currently 58.28%.

Coterra Energy 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.