Corebridge Financial Inc. Lowers Stake in Coterra Energy Inc. (NYSE:CTRA)

Corebridge Financial Inc. decreased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 174,371 shares of the company's stock after selling 12,370 shares during the period. Corebridge Financial Inc.'s holdings in Coterra Energy were worth $4,453,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Congress Wealth Management LLC DE raised its position in Coterra Energy by 15.5% during the 4th quarter. Congress Wealth Management LLC DE now owns 42,076 shares of the company's stock worth $1,075,000 after buying an additional 5,649 shares during the last quarter. LPL Financial LLC increased its stake in shares of Coterra Energy by 63.5% during the fourth quarter. LPL Financial LLC now owns 664,401 shares of the company's stock worth $16,969,000 after acquiring an additional 258,114 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Coterra Energy during the fourth quarter worth about $18,841,000. Mizuho Securities USA LLC lifted its position in Coterra Energy by 45.6% in the fourth quarter. Mizuho Securities USA LLC now owns 69,814 shares of the company's stock valued at $1,783,000 after purchasing an additional 21,876 shares during the period. Finally, Beddow Capital Management Inc. boosted its holdings in Coterra Energy by 2.0% in the 4th quarter. Beddow Capital Management Inc. now owns 253,239 shares of the company's stock valued at $6,468,000 after purchasing an additional 5,073 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CTRA shares. Barclays increased their target price on Coterra Energy from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. Williams Trading set a $37.00 target price on Coterra Energy in a report on Wednesday, March 5th. Piper Sandler upped their price target on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an "overweight" rating in a research note on Thursday, March 6th. Morgan Stanley reduced their price objective on shares of Coterra Energy from $32.00 to $30.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Finally, UBS Group boosted their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Coterra Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.35.

Insider Buying and Selling

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

Coterra Energy Trading Down 8.3 %

NYSE:CTRA traded down $2.27 on Friday, reaching $25.09. The stock had a trading volume of 19,106,288 shares, compared to its average volume of 6,165,927. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The company has a market cap of $19.17 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 0.59 and a beta of 0.47. The firm's fifty day moving average is $27.78 and its two-hundred day moving average is $26.19. 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a dividend of $0.22 per share. This is an increase from Coterra Energy's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.51%. Coterra Energy's dividend payout ratio is presently 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.