PNC Financial Services Group Inc. Acquires 14,669 Shares of Coterra Energy Inc. (NYSE:CTRA)

PNC Financial Services Group Inc. lifted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 4.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 316,044 shares of the company’s stock after purchasing an additional 14,669 shares during the period. PNC Financial Services Group Inc.’s holdings in Coterra Energy were worth $8,072,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Private Trust Co. NA raised its position in Coterra Energy by 20.0% in the fourth quarter. Private Trust Co. NA now owns 2,140 shares of the company’s stock worth $55,000 after acquiring an additional 356 shares during the period. CENTRAL TRUST Co increased its stake in shares of Coterra Energy by 1.8% during the 4th quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock worth $559,000 after purchasing an additional 389 shares during the last quarter. Arkadios Wealth Advisors raised its holdings in shares of Coterra Energy by 3.8% in the 4th quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock worth $288,000 after purchasing an additional 413 shares during the period. Blue Trust Inc. lifted its stake in Coterra Energy by 5.8% in the fourth quarter. Blue Trust Inc. now owns 7,620 shares of the company’s stock valued at $182,000 after purchasing an additional 420 shares during the last quarter. Finally, New York Life Investment Management LLC grew its holdings in Coterra Energy by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 99,584 shares of the company’s stock valued at $2,543,000 after purchasing an additional 421 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Trading Up 0.4 %

Shares of CTRA stock opened at $26.87 on Wednesday. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The business’s fifty day moving average is $27.68 and its 200 day moving average is $25.62. 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 company has a market capitalization of $20.53 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The firm also recently declared 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Thursday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio (DPR) is 58.28%.

Analysts Set New Price Targets

Several analysts have issued reports on CTRA shares. Citigroup boosted their target price on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Truist Financial boosted their price objective on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, January 13th. UBS Group upped their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Morgan Stanley lifted their target price on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Finally, Williams Trading set a $37.00 price target on shares of Coterra Energy in a research note on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.80.

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.