Victory Capital Management Inc. Increases Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Victory Capital Management Inc. boosted its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 17,808,693 shares of the company’s stock after acquiring an additional 845,609 shares during the period. Coterra Energy comprises approximately 0.4% of Victory Capital Management Inc.’s investment portfolio, making the stock its 27th largest position. Victory Capital Management Inc.’s holdings in Coterra Energy were worth $454,834,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTRA. Wellington Management Group LLP grew its stake in shares of Coterra Energy by 28.4% during the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after acquiring an additional 15,736,247 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Coterra Energy by 5.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock valued at $599,356,000 after purchasing an additional 1,310,965 shares during the last quarter. Geode Capital Management LLC grew its stake in Coterra Energy by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock valued at $453,628,000 after purchasing an additional 128,397 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in Coterra Energy by 5.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock worth $128,085,000 after purchasing an additional 284,106 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Coterra Energy by 5.5% in the 4th quarter. Bank of New York Mellon Corp now owns 4,943,266 shares of the company’s stock valued at $126,251,000 after purchasing an additional 259,858 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

CTRA has been the subject of a number of recent analyst reports. Susquehanna raised their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Piper Sandler raised their price objective on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Wells Fargo & Company upped their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Jefferies Financial Group lifted their price target on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley upped their price objective on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.47.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $26.50 on Wednesday. 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 firm has a market capitalization of $20.25 billion, a PE ratio of 15.96, a P/E/G 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. The business’s fifty day moving average price is $27.52 and its two-hundred day moving average price is $25.52.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Thursday, March 13th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio (DPR) is 58.28%.

Coterra Energy Company 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.