Hartford Funds Management Co LLC Boosts Stake in Coterra Energy Inc. (NYSE:CTRA)

Hartford Funds Management Co LLC raised its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 45.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,829 shares of the company’s stock after buying an additional 10,836 shares during the period. Hartford Funds Management Co LLC’s holdings in Coterra Energy were worth $890,000 at the end of the most recent reporting period.

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

Coterra Energy Trading Down 2.3 %

Shares of NYSE:CTRA opened at $25.50 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The stock has a market cap of $19.49 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 0.59 and a beta of 0.26. The business has a 50-day moving average price of $27.60 and a 200-day moving average price of $25.54.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.45%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, March 13th. Coterra Energy’s payout ratio is presently 58.28%.

Analyst Ratings Changes

CTRA has been the subject of a number of research analyst reports. Mizuho lifted their target price on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Morgan Stanley increased their target price on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. The Goldman Sachs Group raised their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Susquehanna upped 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. Finally, Barclays lifted their price objective on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Three 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.63.

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.