Envestnet Portfolio Solutions Inc. Raises Holdings in Coterra Energy Inc. (NYSE:CTRA)

Envestnet Portfolio Solutions Inc. lifted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 39.6% during the fourth quarter, Holdings Channel reports. The fund owned 148,867 shares of the company’s stock after purchasing an additional 42,236 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Coterra Energy were worth $3,802,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTRA. CIBC Asset Management Inc increased its holdings in shares of Coterra Energy by 6.4% during the 3rd quarter. CIBC Asset Management Inc now owns 126,561 shares of the company’s stock worth $3,031,000 after buying an additional 7,649 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Coterra Energy by 0.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 471,256 shares of the company’s stock valued at $11,287,000 after purchasing an additional 3,920 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Coterra Energy during the 3rd quarter valued at about $360,000. Advisors Asset Management Inc. grew its holdings in Coterra Energy by 2.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 65,668 shares of the company’s stock valued at $1,573,000 after purchasing an additional 1,333 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in 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 buying an additional 305,626 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Insider Transactions at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the transaction, the senior vice president now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CTRA. UBS Group raised their price objective on Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. 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. Johnson Rice raised Coterra Energy from a “hold” rating to an “accumulate” rating and raised their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. Williams Trading set a $37.00 target price on Coterra Energy in a research note on Wednesday, March 5th. Finally, Truist Financial upped their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Three 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.14.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $28.74 on Wednesday. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $27.84 and its 200-day simple moving average is $25.74. The firm has a market cap of $21.96 billion, a PE ratio of 17.31, a P/E/G ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $0.22 dividend. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.06%. Coterra Energy’s dividend payout ratio is presently 58.28%.

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.