Hussman Strategic Advisors Inc. Trims Position in Coterra Energy Inc. $CTRA

Hussman Strategic Advisors Inc. cut its position in Coterra Energy Inc. (NYSE:CTRA) by 33.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,000 shares of the company’s stock after selling 21,000 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Coterra Energy were worth $1,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Benjamin Edwards Inc. grew its stake in Coterra Energy by 168.3% during the fourth quarter. Benjamin Edwards Inc. now owns 34,940 shares of the company’s stock valued at $920,000 after acquiring an additional 21,918 shares in the last quarter. Gibraltar Capital Management Inc. grew its stake in Coterra Energy by 1.1% during the fourth quarter. Gibraltar Capital Management Inc. now owns 387,050 shares of the company’s stock valued at $10,187,000 after acquiring an additional 4,285 shares in the last quarter. Horizon Investments LLC grew its stake in Coterra Energy by 173.2% during the fourth quarter. Horizon Investments LLC now owns 119,773 shares of the company’s stock valued at $3,152,000 after acquiring an additional 75,929 shares in the last quarter. Davis Selected Advisers grew its stake in Coterra Energy by 63.6% during the fourth quarter. Davis Selected Advisers now owns 32,537,508 shares of the company’s stock valued at $856,387,000 after acquiring an additional 12,654,027 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in Coterra Energy by 44.3% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 591,342 shares of the company’s stock valued at $15,564,000 after acquiring an additional 181,646 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

CTRA stock opened at $35.40 on Monday. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $36.88. The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 0.24. The company has a fifty day simple moving average of $32.90 and a two-hundred day simple moving average of $28.75. The firm has a market capitalization of $26.88 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 0.52 and a beta of 0.32.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th were given a dividend of $0.22 per share. The ex-dividend date was Wednesday, March 11th. This represents a $0.88 annualized dividend and a yield of 2.5%. Coterra Energy’s dividend payout ratio (DPR) is 38.60%.

Analysts Set New Price Targets

CTRA has been the subject of several research analyst reports. Mizuho raised their target price on shares of Coterra Energy from $36.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. Citigroup raised their target price on shares of Coterra Energy from $32.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, March 30th. Barclays raised their target price on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, March 16th. Siebert Williams Shank cut shares of Coterra Energy from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Capital One Financial raised their target price on shares of Coterra Energy from $37.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.32.

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.