Franklin Resources Inc. Sells 396,789 Shares of Coterra Energy Inc. (NYSE:CTRA)

Franklin Resources Inc. lowered its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 33.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 797,275 shares of the company's stock after selling 396,789 shares during the quarter. Franklin Resources Inc. owned about 0.11% of Coterra Energy worth $20,362,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in Coterra Energy in the 4th quarter valued at $61,461,000. Schroder Investment Management Group boosted its position in shares of Coterra Energy by 18.2% in the fourth quarter. Schroder Investment Management Group now owns 11,776,525 shares of the company's stock worth $300,537,000 after buying an additional 1,809,615 shares during the period. Truist Financial Corp grew its stake in shares of Coterra Energy by 668.0% in the fourth quarter. Truist Financial Corp now owns 1,616,660 shares of the company's stock valued at $41,289,000 after buying an additional 1,406,170 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Coterra Energy by 1.9% during the 4th quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company's stock valued at $1,852,385,000 after buying an additional 1,318,754 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Coterra Energy by 5.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company's stock worth $599,356,000 after acquiring 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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Analyst Upgrades and Downgrades

CTRA has been the subject of several recent research reports. Williams Trading set a $37.00 price objective on shares of Coterra Energy in a research report on Wednesday, March 5th. Scotiabank lowered their price target on shares of Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating for the company in a report on Friday. Morgan Stanley dropped their price target on shares of Coterra Energy from $32.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Johnson Rice raised shares of Coterra Energy from a "hold" rating to an "accumulate" rating and upped their price objective for the company from $34.00 to $37.00 in a research report on Wednesday, March 12th. 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 research report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $34.20.

Insider Buying and Selling at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the transaction, the senior vice president now owns 126,770 shares of the company's stock, valued at $3,374,617.40. This trade represents a 21.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kevin William Smith sold 25,733 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the sale, the senior vice president now directly owns 106,114 shares in the company, valued at approximately $3,086,856.26. This represents a 19.52 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.50% of the company's stock.

Coterra Energy Stock Performance

Coterra Energy stock traded up $0.43 during mid-day trading on Friday, reaching $25.13. The company had a trading volume of 7,199,604 shares, compared to its average volume of 6,217,970. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The firm has a market cap of $19.20 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 0.59 and a beta of 0.47. The company has a 50 day moving average of $27.38 and a 200-day moving average of $26.27. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.50%. This is an increase from Coterra Energy's previous quarterly dividend of $0.21. The ex-dividend date was Thursday, March 13th. Coterra Energy's payout ratio is presently 58.28%.

Coterra Energy 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.