Park Avenue Securities LLC Has $768,000 Stock Position in Coterra Energy Inc. $CTRA

Park Avenue Securities LLC reduced its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 35.5% in the 4th quarter, HoldingsChannel reports. The firm owned 29,198 shares of the company’s stock after selling 16,070 shares during the period. Park Avenue Securities LLC’s holdings in Coterra Energy were worth $768,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC bought a new stake in Coterra Energy during the fourth quarter worth about $28,000. Miller Global Investments LLC bought a new position in shares of Coterra Energy in the fourth quarter valued at approximately $654,000. GAMMA Investing LLC boosted its holdings in shares of Coterra Energy by 24.8% in the 4th quarter. GAMMA Investing LLC now owns 28,399 shares of the company’s stock worth $747,000 after acquiring an additional 5,636 shares in the last quarter. Davis Selected Advisers boosted its holdings in shares of Coterra Energy by 112.9% in the 3rd quarter. Davis Selected Advisers now owns 19,883,481 shares of the company’s stock worth $470,244,000 after acquiring an additional 10,545,340 shares in the last quarter. Finally, Triumph Capital Management bought a new stake in Coterra Energy during the 3rd quarter worth approximately $31,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $35.83 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 1.16. The firm has a 50 day simple moving average of $30.59 and a 200 day simple moving average of $26.95. Coterra Energy Inc. has a fifty-two week low of $22.33 and a fifty-two week high of $36.17. The firm has a market cap of $27.20 billion, a P/E ratio of 15.71, a P/E/G ratio of 0.87 and a beta of 0.38.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, March 11th. Coterra Energy’s dividend payout ratio (DPR) is 38.60%.

Analyst Upgrades and Downgrades

CTRA has been the subject of a number of recent analyst reports. Wolfe Research raised their price target on Coterra Energy from $33.00 to $40.00 in a report on Tuesday, February 3rd. UBS Group boosted their price objective on Coterra Energy from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Scotiabank restated a “sector perform” rating and set a $31.00 target price on shares of Coterra Energy in a report on Tuesday, February 3rd. Piper Sandler raised their target price on Coterra Energy from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Finally, BMO Capital Markets lifted their price target on Coterra Energy from $32.00 to $35.00 and gave the company a “market perform” rating in a report on Tuesday, March 3rd. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.