Brown Brothers Harriman & Co. Lowers Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Brown Brothers Harriman & Co. cut its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 17.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 326,990 shares of the company's stock after selling 68,592 shares during the quarter. Brown Brothers Harriman & Co.'s holdings in Coterra Energy were worth $8,351,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in Coterra Energy by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company's stock worth $1,705,480,000 after purchasing an additional 15,736,247 shares during the period. Holocene Advisors LP grew its stake in Coterra Energy by 187.2% during the third 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 in the last quarter. Raymond James Financial Inc. purchased a new position in Coterra Energy during the fourth quarter valued at approximately $61,461,000. Truist Financial Corp increased its holdings in Coterra Energy by 668.0% during the 4th quarter. Truist Financial Corp now owns 1,616,660 shares of the company's stock worth $41,289,000 after acquiring an additional 1,406,170 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Coterra Energy by 5.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company's stock worth $599,356,000 after purchasing an additional 1,310,965 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

Several research firms have recently weighed in on CTRA. Mizuho upped their price target on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an "outperform" rating in a report on Monday, December 16th. Williams Trading set a $37.00 target price on Coterra Energy in a research note on Wednesday, March 5th. UBS Group lifted their price target on Coterra Energy from $35.00 to $37.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Jefferies Financial Group raised their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the company a "hold" rating in a research note on Tuesday, February 4th. Finally, Barclays boosted their price target on shares of Coterra Energy from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $34.35.

Coterra Energy Trading Down 5.1 %

NYSE:CTRA traded down $1.47 during midday trading on Thursday, reaching $27.52. 2,319,702 shares of the stock traded hands, compared to its average volume of 6,084,129. The stock has a market capitalization of $21.03 billion, a P/E ratio of 16.58, a PEG ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company has a fifty day moving average of $27.90 and a 200 day moving average of $26.17. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $0.22 per share. 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 3.20%. The ex-dividend date of this dividend was Thursday, March 13th. Coterra Energy's dividend payout ratio is currently 58.28%.

Insider Buying and Selling

In related news, SVP Michael D. Deshazer sold 35,377 shares of the business's stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction 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 ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is 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.