Cibc World Markets Corp Grows Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Cibc World Markets Corp boosted its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 15.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,338 shares of the company's stock after acquiring an additional 15,681 shares during the period. Cibc World Markets Corp's holdings in Coterra Energy were worth $2,971,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Coterra Energy by 28.4% during the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company's stock worth $1,705,480,000 after buying an additional 15,736,247 shares in the last quarter. Holocene Advisors LP lifted its position in shares of Coterra Energy by 187.2% during the 3rd quarter. Holocene Advisors LP now owns 4,533,269 shares of the company's stock valued at $108,572,000 after acquiring an additional 2,954,675 shares during the period. Raymond James Financial Inc. bought a new position in Coterra Energy during the fourth quarter worth $61,461,000. Truist Financial Corp grew its holdings in Coterra Energy by 668.0% in the fourth quarter. Truist Financial Corp now owns 1,616,660 shares of the company's stock worth $41,289,000 after purchasing an additional 1,406,170 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Coterra Energy by 5.9% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 87.92% of the company's stock.

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Coterra Energy Stock Performance

Shares of NYSE:CTRA traded up $0.04 during midday trading on Tuesday, reaching $29.40. 7,221,330 shares of the company traded hands, compared to its average volume of 5,873,363. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The firm's fifty day moving average price is $27.95 and its two-hundred day moving average price is $25.89. 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 market capitalization of $22.47 billion, a price-to-earnings ratio of 17.71, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The company also recently disclosed 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 a positive change from Coterra Energy's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Thursday, March 13th. Coterra Energy's dividend payout ratio (DPR) is 58.28%.

Insider Activity at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the transaction, the senior vice president now directly owns 106,114 shares in the company, valued at $3,086,856.26. The trade was a 19.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the company's stock in a transaction dated 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 owns 126,770 shares in the company, valued at $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. UBS Group raised their target price on Coterra Energy from $35.00 to $37.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Raymond James lowered 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. Johnson Rice raised shares of Coterra Energy from a "hold" rating to an "accumulate" rating and lifted their price target for the company from $34.00 to $37.00 in a research report on Wednesday, March 12th. Mizuho boosted their price target on shares of Coterra Energy from $37.00 to $40.00 and gave the company an "outperform" rating in a research note on Monday, December 16th. Finally, Truist Financial lifted their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $34.30.

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.