Hennion & Walsh Asset Management Inc. Decreases Stock Position in Coterra Energy Inc. $CTRA

Hennion & Walsh Asset Management Inc. cut its position in Coterra Energy Inc. (NYSE:CTRA) by 31.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,602 shares of the company’s stock after selling 15,631 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Coterra Energy were worth $911,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Davis Selected Advisers increased its holdings in 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 during the last quarter. Vanguard Group Inc. boosted its position in Coterra Energy by 4.0% during the third quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after purchasing an additional 3,781,606 shares during the period. AQR Capital Management LLC boosted its position in Coterra Energy by 287.7% during the third quarter. AQR Capital Management LLC now owns 4,573,111 shares of the company’s stock worth $108,154,000 after purchasing an additional 3,393,697 shares during the period. HITE Hedge Asset Management LLC increased its stake in shares of Coterra Energy by 308.9% in the third quarter. HITE Hedge Asset Management LLC now owns 2,362,900 shares of the company’s stock worth $55,883,000 after purchasing an additional 1,784,967 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Coterra Energy by 17.6% in the third quarter. Invesco Ltd. now owns 11,744,004 shares of the company’s stock worth $277,746,000 after purchasing an additional 1,758,859 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wolfe Research upped their price target on shares of Coterra Energy from $33.00 to $40.00 in a research note on Tuesday, February 3rd. Capital One Financial lifted their price objective on shares of Coterra Energy from $37.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, March 25th. UBS Group increased their target price on Coterra Energy from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Johnson Rice cut their price target on Coterra Energy from $38.00 to $37.00 in a report on Friday, December 5th. Finally, Stephens lifted their price target on Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. Sixteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.17.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $34.58 on Friday. The company has a 50 day moving average of $31.62 and a 200 day moving average of $27.41. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24. The stock has a market cap of $26.26 billion, a P/E ratio of 15.17, a P/E/G ratio of 0.61 and a beta of 0.29. Coterra Energy Inc. has a 12 month low of $22.33 and a 12 month high of $36.88.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, March 11th. Coterra Energy’s payout ratio is presently 38.60%.

About Coterra Energy

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.