Diamond Hill Capital Management Inc. Trims Holdings in Coterra Energy Inc. (NYSE:CTRA)

Diamond Hill Capital Management Inc. cut its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 8.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,961,929 shares of the company's stock after selling 272,466 shares during the period. Diamond Hill Capital Management Inc. owned about 0.40% of Coterra Energy worth $75,648,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP increased its position in Coterra Energy by 28.4% in the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company's stock worth $1,705,480,000 after buying an additional 15,736,247 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Coterra Energy by 5.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company's stock worth $599,356,000 after buying an additional 1,310,965 shares during the last quarter. Geode Capital Management LLC increased its position in Coterra Energy by 0.7% in the third quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company's stock worth $453,628,000 after buying an additional 128,397 shares during the last quarter. Victory Capital Management Inc. increased its position in Coterra Energy by 5.0% in the fourth quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company's stock worth $454,834,000 after buying an additional 845,609 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN increased its position in Coterra Energy by 5.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company's stock worth $128,085,000 after buying an additional 284,106 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

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Insider Transactions at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy 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 owns 126,770 shares in the company, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. JPMorgan Chase & Co. decreased their target price on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Johnson Rice raised Coterra Energy from a "hold" rating to an "accumulate" rating and raised their price target for the stock from $34.00 to $37.00 in a report on Wednesday, March 12th. Truist Financial raised their price target on Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Barclays raised their price target on Coterra Energy from $37.00 to $38.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, Mizuho raised their price target on Coterra Energy from $37.00 to $40.00 and gave the stock an "outperform" rating in a report on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.14.

Coterra Energy Price Performance

NYSE CTRA traded up $0.58 during trading hours on Tuesday, reaching $28.74. 8,083,672 shares of the stock traded hands, compared to its average volume of 5,834,670. The company has a market cap of $21.96 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The stock has a 50 day simple moving average of $27.79 and a two-hundred day simple moving average of $25.71. 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 Inc. has a 1 year low of $22.30 and a 1 year high of $29.95.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $0.22 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.06%. This is an increase from Coterra Energy's previous quarterly dividend of $0.21. Coterra Energy's payout ratio is currently 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.