Coterra Energy Inc. (NYSE:CTRA) to Issue Quarterly Dividend of $0.22

Coterra Energy Inc. (NYSE:CTRA) announced a quarterly dividend on Thursday, February 26th. Investors of record on Wednesday, March 11th will be given a dividend of 0.22 per share on Wednesday, March 25th. This represents a c) annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, March 11th.

Coterra Energy has raised its dividend by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Coterra Energy has a dividend payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Coterra Energy to earn $3.13 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 28.1%.

Coterra Energy Price Performance

CTRA stock traded up $0.32 during mid-day trading on Friday, hitting $30.33. The stock had a trading volume of 2,389,227 shares, compared to its average volume of 11,238,900. The firm has a fifty day simple moving average of $27.87 and a 200 day simple moving average of $25.77. The firm has a market capitalization of $23.09 billion, a P/E ratio of 13.99, a P/E/G ratio of 0.74 and a beta of 0.38. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. Coterra Energy has a 52 week low of $22.33 and a 52 week high of $32.67.

Institutional Trading of Coterra Energy

Institutional investors have recently made changes to their positions in the business. AlphaQuest LLC grew its holdings in Coterra Energy by 52.4% in the second quarter. AlphaQuest LLC now owns 15,125 shares of the company’s stock valued at $384,000 after purchasing an additional 5,203 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Coterra Energy in the 2nd quarter valued at approximately $246,000. Bessemer Group Inc. grew its stake in Coterra Energy by 31.4% in the second quarter. Bessemer Group Inc. now owns 21,295 shares of the company’s stock worth $541,000 after purchasing an additional 5,090 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in Coterra Energy by 7.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 115,958 shares of the company’s stock worth $2,943,000 after buying an additional 8,267 shares in the last quarter. Finally, Advisory Alpha LLC acquired a new stake in shares of Coterra Energy during the second quarter worth $200,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

About Coterra Energy

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.