9,260 Shares in Coterra Energy Inc. (NYSE:CTRA) Acquired by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC acquired a new stake in Coterra Energy Inc. (NYSE:CTRA) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 9,260 shares of the company’s stock, valued at approximately $236,000.

Other large investors also recently modified their holdings of the company. City State Bank purchased a new stake in shares of Coterra Energy in the 4th quarter valued at approximately $26,000. AdvisorNet Financial Inc increased its position in shares of Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after purchasing an additional 744 shares during the last quarter. MCF Advisors LLC increased its position in shares of Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Coterra Energy in the 4th quarter valued at approximately $32,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of Coterra Energy in the 4th quarter valued at approximately $43,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Up 1.9 %

Shares of Coterra Energy stock opened at $28.16 on Tuesday. The company has a market cap of $21.52 billion, a P/E ratio of 16.97, a PEG 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. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The firm has a fifty day moving average of $27.79 and a two-hundred day moving average of $25.71.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 dividend on an annualized basis and a yield of 3.12%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio is presently 58.28%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CTRA shares. Mizuho upped their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Williams Trading set a $37.00 target price on shares of Coterra Energy in a report on Wednesday, March 5th. Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and upped their target price for the company from $34.00 to $37.00 in a report on Wednesday, March 12th. Jefferies Financial Group upped their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, February 4th. Finally, Piper Sandler upped their target price on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and a consensus price target of $34.10.

Insiders Place Their Bets

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the completion of the transaction, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by insiders.

About Coterra Energy

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.