Easterly Investment Partners LLC Sells 26,376 Shares of Coterra Energy Inc. (NYSE:CTRA)

Easterly Investment Partners LLC decreased its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 478,897 shares of the company's stock after selling 26,376 shares during the quarter. Easterly Investment Partners LLC owned approximately 0.07% of Coterra Energy worth $12,231,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. City State Bank purchased a new stake in shares of Coterra Energy in the 4th quarter worth approximately $26,000. AdvisorNet Financial Inc boosted its holdings in Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company's stock worth $29,000 after acquiring an additional 744 shares in the last quarter. MCF Advisors LLC grew its stake in shares of Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company's stock worth $32,000 after acquiring an additional 869 shares during the last quarter. R Squared Ltd bought a new position in shares of Coterra Energy during the fourth quarter valued at $32,000. Finally, Plato Investment Management Ltd bought a new stake in Coterra Energy during the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 87.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CTRA shares. Jefferies Financial Group increased their price target on shares of Coterra Energy from $26.00 to $28.00 and gave the company a "hold" rating in a report on Tuesday, February 4th. Truist Financial boosted their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. The Goldman Sachs Group raised their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. decreased their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Finally, Morgan Stanley dropped their target price on shares of Coterra Energy from $32.00 to $30.00 and set an "equal weight" rating on the stock in a report on Thursday. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.35.

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Insider Transactions at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the business's stock in a transaction on Monday, March 10th. The shares were 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 of the company's stock, 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 can be accessed through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total transaction of $748,572.97. Following the transaction, the senior vice president now owns 106,114 shares of the company's stock, 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. Corporate insiders own 1.70% of the company's stock.

Coterra Energy Price Performance

Shares of CTRA traded up $0.25 during mid-day trading on Monday, reaching $28.88. The stock had a trading volume of 1,483,453 shares, compared to its average volume of 6,099,869. The firm has a market cap of $22.07 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The business has a fifty day moving average of $27.91 and a 200 day moving average of $26.06. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.05%. This is an increase from Coterra Energy's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, March 13th. Coterra Energy's payout ratio is presently 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.