Raymond James Financial Inc. Purchases Shares of 2,406,472 Coterra Energy Inc. (NYSE:CTRA)

Raymond James Financial Inc. purchased a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,406,472 shares of the company’s stock, valued at approximately $61,461,000. Raymond James Financial Inc. owned about 0.33% of Coterra Energy as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. City State Bank purchased a new stake in shares of Coterra Energy in the fourth quarter worth about $26,000. AdvisorNet Financial Inc boosted its stake in shares of Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after buying an additional 744 shares during the last quarter. MCF Advisors LLC boosted its stake in shares of Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after buying an additional 869 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Coterra Energy in the fourth quarter worth about $32,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of Coterra Energy in the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

CTRA stock opened at $26.73 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The business has a 50 day simple moving average of $27.65 and a 200-day simple moving average of $25.60. The firm has a market capitalization of $20.42 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change 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 3.29%. Coterra Energy’s dividend payout ratio is 58.28%.

Wall Street Analysts Forecast Growth

CTRA has been the topic of a number of recent research reports. Raymond James upped their target price on Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. UBS Group upped their price target on Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group upped their price target on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a report on Tuesday, February 4th. The Goldman Sachs Group upped their price target on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Susquehanna upped their price target on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.80.

About Coterra Energy

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.