Swiss National Bank lowered its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,088,420 shares of the company's stock after selling 120,600 shares during the quarter. Swiss National Bank owned approximately 0.28% of Coterra Energy worth $53,338,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. City State Bank purchased a new stake in Coterra Energy in the 4th quarter worth approximately $26,000. AdvisorNet Financial Inc lifted its stake in shares of Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company's stock valued at $29,000 after purchasing an additional 744 shares during the period. MCF Advisors LLC lifted its stake in shares of Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company's stock valued at $32,000 after purchasing an additional 869 shares during the period. R Squared Ltd purchased a new position in shares of Coterra Energy in the 4th quarter valued at approximately $32,000. Finally, Plato Investment Management Ltd purchased a new position in shares of Coterra Energy in the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 87.92% of the company's stock.
Coterra Energy Stock Performance
NYSE:CTRA traded up $0.46 during mid-day trading on Wednesday, hitting $29.23. 7,605,299 shares of the company traded hands, compared to its average volume of 6,483,435. The stock's fifty day moving average price is $27.84 and its 200-day moving average price is $25.74. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. 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 cap of $22.33 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26.
Coterra Energy Increases Dividend
The firm 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 represents a $0.88 annualized dividend and a dividend yield of 3.01%. This is an increase from Coterra Energy's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, March 13th. Coterra Energy's payout ratio is presently 58.28%.
Analyst Ratings Changes
A number of research firms have recently commented on CTRA. Williams Trading set a $37.00 target price on Coterra Energy in a research note on Wednesday, March 5th. Jefferies Financial Group lifted their target price on Coterra Energy from $26.00 to $28.00 and gave the stock a "hold" rating in a report on Tuesday, February 4th. Johnson Rice raised Coterra Energy from a "hold" rating to an "accumulate" rating and lifted their target price for the stock from $34.00 to $37.00 in a report on Wednesday, March 12th. Raymond James cut their price objective on Coterra Energy from $41.00 to $37.00 and set an "outperform" rating for the company in a report on Wednesday, March 12th. Finally, Mizuho lifted their price objective on Coterra Energy from $37.00 to $40.00 and gave the stock an "outperform" rating in a report on Monday, December 16th. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $34.14.
Read Our Latest Stock Analysis on Coterra Energy
Insider Activity
In other news, SVP Michael D. Deshazer sold 35,377 shares of the business'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 transaction, the senior vice president now directly owns 126,770 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.70% of the company's stock.
About Coterra Energy
(
Free Report)
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.
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