Delta Global Management LP Invests $2.43 Million in Coterra Energy Inc. $CTRA

Delta Global Management LP acquired a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 102,585 shares of the company’s stock, valued at approximately $2,426,000.

A number of other institutional investors have also made changes to their positions in CTRA. Winnow Wealth LLC bought a new stake in Coterra Energy during the third quarter worth approximately $29,000. Atlantic Union Bankshares Corp bought a new position in shares of Coterra Energy in the third quarter valued at approximately $29,000. Bogart Wealth LLC lifted its stake in shares of Coterra Energy by 97.8% in the third quarter. Bogart Wealth LLC now owns 2,022 shares of the company’s stock worth $48,000 after buying an additional 1,000 shares during the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Coterra Energy during the 2nd quarter worth $50,000. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of Coterra Energy during the 3rd quarter worth $50,000. 87.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CTRA has been the topic of several recent analyst reports. Stephens lifted their target price on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, January 29th. Susquehanna upped their price target on shares of Coterra Energy from $32.00 to $34.00 and gave the company a “positive” rating in a report on Tuesday, February 3rd. Jefferies Financial Group raised their price target on Coterra Energy from $26.00 to $28.00 in a research report on Monday, March 9th. Mizuho lifted their price objective on Coterra Energy from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Finally, Texas Capital cut Coterra Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Fourteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.43.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $32.40 on Tuesday. The firm has a market capitalization of $24.60 billion, a PE ratio of 14.21, a PEG ratio of 0.80 and a beta of 0.37. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24. Coterra Energy Inc. has a 1-year low of $22.33 and a 1-year high of $32.71. The business’s 50 day moving average is $29.14 and its 200-day moving average is $26.43.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be paid a dividend of $0.22 per share. The ex-dividend date is Wednesday, March 11th. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. Coterra Energy’s payout ratio is currently 38.60%.

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.