Simplicity Wealth LLC Purchases Shares of 8,470 Coterra Energy Inc. (NYSE:CTRA)

Simplicity Wealth LLC purchased a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,470 shares of the company’s stock, valued at approximately $216,000.

A number of other large investors have also made changes to their positions in the company. City State Bank purchased a new position in shares of Coterra Energy during the 4th quarter valued at about $26,000. AdvisorNet Financial Inc lifted its position in shares of Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after buying an additional 744 shares in the last quarter. MCF Advisors LLC lifted its position in shares of Coterra Energy by 230.5% during the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after buying an additional 869 shares in the last quarter. R Squared Ltd purchased a new position in shares of Coterra Energy during the 4th quarter valued at about $32,000. Finally, Plato Investment Management Ltd purchased a new position in shares of Coterra Energy during the 4th quarter valued at about $43,000. 87.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CTRA. Piper Sandler boosted their price target on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Barclays boosted their price target on Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. 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. Mizuho boosted their price target on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Finally, The Goldman Sachs Group boosted their price target on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Three 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $33.80.

Coterra Energy Stock Performance

NYSE CTRA opened at $26.87 on Wednesday. The company has a market cap of $20.53 billion, a P/E ratio of 16.18, a P/E/G ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The business’s 50 day moving average price is $27.68 and its 200-day moving average price is $25.62. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.28%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is currently 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.