Proficio Capital Partners LLC bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 141,894 shares of the company's stock, valued at approximately $3,624,000.
Several other institutional investors have also recently added to or reduced their stakes in CTRA. City State Bank acquired a new stake in Coterra Energy during the fourth quarter worth approximately $26,000. AdvisorNet Financial Inc raised its stake in Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company's stock worth $29,000 after acquiring an additional 744 shares in the last quarter. MCF Advisors LLC lifted its position in Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company's stock valued at $32,000 after acquiring an additional 869 shares during the last quarter. R Squared Ltd acquired a new position in Coterra Energy in the fourth quarter valued at $32,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of Coterra Energy during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 87.92% of the company's stock.
Coterra Energy Price Performance
Shares of Coterra Energy stock traded down $0.28 during trading on Friday, hitting $28.73. 20,629,486 shares of the company were exchanged, compared to its average volume of 5,901,894. 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 quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average price of $27.92 and a 200 day moving average price of $25.79. The stock has a market capitalization of $21.95 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 0.59 and a beta of 0.26.
Coterra Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.06%. This is a positive change from Coterra Energy's previous quarterly dividend of $0.21. Coterra Energy's dividend payout ratio (DPR) is presently 58.28%.
Insider Buying and Selling
In other Coterra Energy 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 transaction of $941,735.74. Following the transaction, the senior vice president now owns 126,770 shares of the company's stock, valued at $3,374,617.40. This represents a 21.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.70% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on CTRA. Raymond James decreased their target price on Coterra Energy from $41.00 to $37.00 and set an "outperform" rating for the company in a research report on Wednesday, March 12th. Barclays lifted their target price on shares of Coterra Energy from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Tuesday. UBS Group raised their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Citigroup upped their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. lowered their price target on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $34.14.
Get Our Latest Stock Report on CTRA
About Coterra Energy
(
Free Report)
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.
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