Envestnet Portfolio Solutions Inc. Buys 42,236 Shares of Coterra Energy Inc. (NYSE:CTRA)

Envestnet Portfolio Solutions Inc. increased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 39.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 148,867 shares of the company's stock after purchasing an additional 42,236 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Coterra Energy were worth $3,802,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its stake in shares of Coterra Energy by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company's stock worth $530,645,000 after purchasing an additional 305,626 shares in the last quarter. Czech National Bank raised its position in Coterra Energy by 6.1% during the fourth quarter. Czech National Bank now owns 159,713 shares of the company's stock worth $4,079,000 after acquiring an additional 9,115 shares in the last quarter. Bourgeon Capital Management LLC lifted its stake in Coterra Energy by 107.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company's stock valued at $6,052,000 after acquiring an additional 122,487 shares during the last quarter. Hartford Funds Management Co LLC acquired a new stake in Coterra Energy in the third quarter valued at $575,000. Finally, M.E. Allison & CO. Inc. acquired a new position in shares of Coterra Energy during the 4th quarter worth about $217,000. Institutional investors own 87.92% of the company's stock.

Coterra Energy Price Performance

Shares of CTRA stock traded down $0.28 on Friday, hitting $28.73. 20,651,024 shares of the company's stock were exchanged, compared to its average volume of 5,878,576. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The company has a 50 day moving average of $27.94 and a 200 day moving average of $25.82. The stock has a market cap of $21.95 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26.

Remove Ads

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.22 dividend. This is an increase 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 3.06%. The ex-dividend date of this dividend is Thursday, March 13th. Coterra Energy's dividend payout ratio (DPR) is presently 58.28%.

Insider Activity at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of the firm'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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the company'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 completion of the transaction, the senior vice president now directly 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 position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CTRA shares. The Goldman Sachs Group raised their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Johnson Rice upgraded 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 research note on Wednesday, March 12th. Piper Sandler increased their price target on Coterra Energy from $34.00 to $37.00 and gave the company an "overweight" rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. reduced their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, Williams Trading set a $37.00 target price on shares of Coterra Energy in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Coterra Energy presently has a consensus rating of "Moderate Buy" and an average price target of $34.14.

About Coterra Energy

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.