Grantham Mayo Van Otterloo & Co. LLC Invests $1.48 Million in Coterra Energy Inc. $CTRA

Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 62,535 shares of the company’s stock, valued at approximately $1,479,000.

A number of other hedge funds also recently made changes to their positions in the stock. Advisors Asset Management Inc. raised its stake in Coterra Energy by 0.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock worth $1,438,000 after acquiring an additional 398 shares during the period. Profund Advisors LLC lifted its holdings in Coterra Energy by 1.4% during the third quarter. Profund Advisors LLC now owns 30,969 shares of the company’s stock valued at $732,000 after purchasing an additional 418 shares in the last quarter. AAFMAA Wealth Management & Trust LLC boosted its position in shares of Coterra Energy by 1.0% in the third quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company’s stock worth $1,017,000 after purchasing an additional 429 shares during the period. Trust Co. of Vermont boosted its position in shares of Coterra Energy by 1.5% in the third quarter. Trust Co. of Vermont now owns 30,832 shares of the company’s stock worth $729,000 after purchasing an additional 454 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Coterra Energy by 2.1% in the third quarter. GAMMA Investing LLC now owns 22,763 shares of the company’s stock worth $538,000 after purchasing an additional 462 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CTRA. Stephens raised their price objective on shares of Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. Mizuho upped their target price on shares of Coterra Energy from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, January 15th. JPMorgan Chase & Co. cut their price target on Coterra Energy from $34.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, January 12th. Texas Capital cut Coterra Energy from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Jefferies Financial Group upped their price objective on Coterra Energy from $26.00 to $28.00 in a research note on Monday. Fifteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.00.

Coterra Energy Price Performance

CTRA stock opened at $30.41 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19. The company’s fifty day moving average price is $28.68 and its 200-day moving average price is $26.21. Coterra Energy Inc. has a one year low of $22.33 and a one year high of $32.67. The company has a market capitalization of $23.09 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 0.77 and a beta of 0.38.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be paid a $0.22 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $0.88 annualized dividend and a yield of 2.9%. Coterra Energy’s payout ratio is presently 38.60%.

Coterra Energy Company 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.