Danske Bank A S Sells 59,373 Shares of Coterra Energy Inc. $CTRA

Danske Bank A S lowered its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 49.7% in the 4th quarter, HoldingsChannel reports. The firm owned 60,042 shares of the company’s stock after selling 59,373 shares during the period. Danske Bank A S’s holdings in Coterra Energy were worth $1,580,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. QRG Capital Management Inc. increased its stake in shares of Coterra Energy by 67.0% in the 3rd quarter. QRG Capital Management Inc. now owns 143,188 shares of the company’s stock valued at $3,386,000 after acquiring an additional 57,461 shares in the last quarter. Summit Global Investments bought a new position in Coterra Energy during the third quarter worth $1,086,000. Ashton Thomas Private Wealth LLC boosted its stake in Coterra Energy by 60.7% during the third quarter. Ashton Thomas Private Wealth LLC now owns 273,650 shares of the company’s stock worth $6,472,000 after acquiring an additional 103,381 shares in the last quarter. Vanguard Group Inc. grew its holdings in Coterra Energy by 4.0% in 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. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in Coterra Energy by 36.2% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 830,392 shares of the company’s stock worth $19,639,000 after purchasing an additional 220,688 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Price Performance

CTRA opened at $35.63 on Wednesday. The firm has a market cap of $27.06 billion, a P/E ratio of 15.63, a PEG ratio of 0.53 and a beta of 0.32. The firm has a 50-day moving average of $32.99 and a 200 day moving average of $28.84. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19. Coterra Energy Inc. has a fifty-two week low of $22.33 and a fifty-two week high of $36.88.

Coterra Energy Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Morgan Stanley upped their price objective on shares of Coterra Energy from $28.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Raymond James Financial raised their target price on Coterra Energy from $34.00 to $41.00 in a research note on Monday, March 9th. Zacks Research raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. Stephens increased their price target on Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, January 29th. Finally, JPMorgan Chase & Co. reduced their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.32.

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.