9,225 Shares in Coterra Energy Inc. (NYSE:CTRA) Acquired by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC acquired a new stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 9,225 shares of the company's stock, valued at approximately $236,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in shares of Coterra Energy by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company's stock valued at $1,705,480,000 after purchasing an additional 15,736,247 shares during the last quarter. Holocene Advisors LP increased its stake in shares of Coterra Energy by 187.2% in the 3rd quarter. Holocene Advisors LP now owns 4,533,269 shares of the company's stock valued at $108,572,000 after purchasing an additional 2,954,675 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Coterra Energy in the 4th quarter valued at $61,461,000. Truist Financial Corp increased its stake in shares of Coterra Energy by 668.0% in the 4th quarter. Truist Financial Corp now owns 1,616,660 shares of the company's stock valued at $41,289,000 after purchasing an additional 1,406,170 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Coterra Energy by 5.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company's stock valued at $599,356,000 after purchasing an additional 1,310,965 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In related news, SVP Michael D. Deshazer sold 35,377 shares of the company's stock in a transaction that occurred 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 directly owns 126,770 shares of the company's stock, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their position. The transaction 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 company insiders.

Coterra Energy Trading Up 1.6 %

Shares of NYSE:CTRA traded up $0.46 during midday trading on Wednesday, reaching $29.23. The company's stock had a trading volume of 7,605,633 shares, compared to its average volume of 5,838,956. The firm has a market capitalization of $22.33 billion, a price-to-earnings ratio of 17.61, 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. The firm has a 50 day moving average price of $27.84 and a two-hundred day moving average price of $25.74. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.01%. This is an increase from Coterra Energy's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, March 13th. Coterra Energy's payout ratio is currently 58.28%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CTRA shares. Williams Trading set a $37.00 price target on Coterra Energy in a research note on Wednesday, March 5th. Johnson Rice upgraded Coterra Energy from a "hold" rating to an "accumulate" rating and boosted their price objective for the stock from $34.00 to $37.00 in a research report on Wednesday, March 12th. Truist Financial boosted their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. The Goldman Sachs Group boosted their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Finally, Piper Sandler boosted their price objective on Coterra Energy from $34.00 to $37.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Coterra Energy has a consensus rating of "Moderate Buy" and an average target price of $34.14.

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.