Frank Rimerman Advisors LLC Makes New Investment in Coterra Energy Inc. (NYSE:CTRA)

Frank Rimerman Advisors LLC purchased a new stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 9,260 shares of the company's stock, valued at approximately $236,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTRA. Private Trust Co. NA boosted its holdings in Coterra Energy by 20.0% in the 4th quarter. Private Trust Co. NA now owns 2,140 shares of the company's stock worth $55,000 after buying an additional 356 shares during the period. CENTRAL TRUST Co lifted its position in shares of Coterra Energy by 1.8% in the fourth quarter. CENTRAL TRUST Co now owns 21,881 shares of the company's stock valued at $559,000 after acquiring an additional 389 shares in the last quarter. Arkadios Wealth Advisors boosted its stake in shares of Coterra Energy by 3.8% in the fourth quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company's stock worth $288,000 after acquiring an additional 413 shares during the period. Blue Trust Inc. grew its position in shares of Coterra Energy by 5.8% during the fourth quarter. Blue Trust Inc. now owns 7,620 shares of the company's stock worth $182,000 after purchasing an additional 420 shares in the last quarter. Finally, New York Life Investment Management LLC raised its stake in Coterra Energy by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 99,584 shares of the company's stock valued at $2,543,000 after purchasing an additional 421 shares during the period. Hedge funds and other institutional investors own 87.92% of the company's stock.

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Analyst Ratings Changes

Several research analysts have weighed in on CTRA shares. UBS Group upped their price target on Coterra Energy from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Truist Financial upped their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Williams Trading set a $37.00 price target on shares of Coterra Energy in a report on Wednesday, March 5th. Jefferies Financial Group increased their price objective 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 lifted their target price on Coterra Energy from $34.00 to $37.00 and gave the stock an "overweight" rating in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $34.14.

Insider Buying and Selling at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of the company's 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 completion of the sale, the senior vice president now directly owns 126,770 shares in the company, 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. Insiders own 1.70% of the company's stock.

Coterra Energy Stock Down 1.0 %

Shares of NYSE:CTRA traded down $0.28 during trading hours on Friday, hitting $28.73. The company's stock had a trading volume of 20,650,816 shares, compared to its average volume of 5,901,897. The firm's fifty day moving average price is $27.92 and its 200 day moving average price is $25.79. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The company 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. 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. Shareholders of record on Thursday, March 13th will be issued 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 3.06%. This is a positive change from Coterra Energy's previous quarterly dividend of $0.21. Coterra Energy's dividend payout ratio is currently 58.28%.

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.