Oak Grove Capital LLC Purchases 15,000 Shares of Coterra Energy Inc. (NYSE:CTRA)

Oak Grove Capital LLC boosted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 25.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,300 shares of the company’s stock after purchasing an additional 15,000 shares during the period. Oak Grove Capital LLC’s holdings in Coterra Energy were worth $1,898,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CTRA. Wellington Management Group LLP lifted its position in shares of Coterra Energy by 28.4% during the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after buying an additional 15,736,247 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Coterra Energy by 5.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock worth $599,356,000 after acquiring an additional 1,310,965 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Coterra Energy by 0.7% in the third quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock worth $453,628,000 after acquiring an additional 128,397 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Coterra Energy by 5.0% in the fourth quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company’s stock worth $454,834,000 after acquiring an additional 845,609 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its stake in shares of Coterra Energy by 5.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock valued at $128,085,000 after purchasing an additional 284,106 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CTRA. Wells Fargo & Company increased their price objective 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 raised their price objective on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, February 4th. Truist Financial upped their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th. UBS Group increased their target price on Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Susquehanna boosted 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 investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.47.

Coterra Energy Stock Performance

CTRA stock opened at $26.50 on Wednesday. The firm has a market cap of $20.25 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average price of $27.52 and a 200-day moving average price of $25.52. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $0.22 dividend. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Thursday, March 13th. Coterra Energy’s payout ratio is presently 58.28%.

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.