Coterra Energy Inc. (NYSE:CTRA) Position Boosted by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC boosted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 16.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 706,386 shares of the company’s stock after acquiring an additional 100,035 shares during the quarter. Commonwealth Equity Services LLC owned 0.10% of Coterra Energy worth $18,041,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CTRA. Charles Schwab Investment Management Inc. lifted its stake in shares of Coterra Energy by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after acquiring an additional 305,626 shares during the period. Czech National Bank lifted its position in Coterra Energy by 6.1% in the fourth quarter. Czech National Bank now owns 159,713 shares of the company’s stock worth $4,079,000 after purchasing an additional 9,115 shares during the period. Bourgeon Capital Management LLC boosted its stake in Coterra Energy by 107.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock valued at $6,052,000 after purchasing an additional 122,487 shares in the last quarter. Hartford Funds Management Co LLC acquired a new position in shares of Coterra Energy during the 3rd quarter valued at $575,000. Finally, M.E. Allison & CO. Inc. bought a new stake in shares of Coterra Energy in the 4th quarter worth $217,000. Institutional investors own 87.92% of the company’s stock.

Insiders Place Their Bets

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the business’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 of the company’s stock, valued at $3,374,617.40. The trade was a 21.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.70% of the company’s stock.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $28.16 on Tuesday. The stock has a market capitalization of $21.52 billion, a P/E ratio of 16.97, a P/E/G ratio of 0.59 and a beta of 0.26. The business has a 50-day moving average of $27.79 and a two-hundred day moving average of $25.71. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $0.22 dividend. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.12%. The ex-dividend date is Thursday, March 13th. Coterra Energy’s payout ratio is 58.28%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CTRA. JPMorgan Chase & Co. dropped their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Raymond James cut their target price on Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 12th. Piper Sandler lifted their price target on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Barclays raised their target price on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, Jefferies Financial Group boosted their price target 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. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and an average price target of $34.10.

Coterra Energy 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.