Commonwealth Equity Services LLC Purchases 100,035 Shares of Coterra Energy Inc. (NYSE:CTRA)

Commonwealth Equity Services LLC boosted its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 16.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 706,386 shares of the company's stock after acquiring an additional 100,035 shares during the period. Commonwealth Equity Services LLC owned 0.10% of Coterra Energy worth $18,041,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of CTRA. Charles Schwab Investment Management Inc. lifted its stake in shares of Coterra Energy by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company's stock valued at $530,645,000 after buying an additional 305,626 shares in the last quarter. Czech National Bank lifted its position in shares of Coterra Energy by 6.1% during the fourth quarter. Czech National Bank now owns 159,713 shares of the company's stock worth $4,079,000 after acquiring an additional 9,115 shares in the last quarter. Bourgeon Capital Management LLC boosted its holdings in shares of Coterra Energy by 107.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company's stock worth $6,052,000 after acquiring an additional 122,487 shares during the period. Hartford Funds Management Co LLC purchased a new position in shares of Coterra Energy in the third quarter valued at $575,000. Finally, M.E. Allison & CO. Inc. bought a new stake in shares of Coterra Energy during the 4th quarter valued at $217,000. 87.92% of the stock is owned by institutional investors.

Coterra Energy Stock Down 1.0 %

Shares of CTRA traded down $0.28 on Friday, hitting $28.73. 20,650,789 shares of the stock traded hands, compared to its average volume of 5,901,897. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company has a market capitalization of $21.95 billion, a PE ratio of 17.31, a P/E/G ratio of 0.59 and a beta of 0.26. The business has a 50 day simple moving average of $27.92 and a 200 day simple moving average of $25.79. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

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Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.22 per share. This is an increase 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 3.06%. The ex-dividend date of this dividend is Thursday, March 13th. Coterra Energy's dividend payout ratio is presently 58.28%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Barclays lifted their target price on Coterra Energy from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Tuesday. UBS Group lifted their price objective on Coterra Energy from $35.00 to $37.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. The Goldman Sachs Group raised their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Truist Financial boosted their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Finally, Williams Trading set a $37.00 price objective on shares of Coterra Energy in a report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $34.14.

Insider Activity at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction on 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 sale, the senior vice president now owns 126,770 shares of the company's stock, valued at $3,374,617.40. The trade was a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is currently owned by insiders.

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.