Coterra Energy Inc. (NYSE:CTRA) Position Trimmed by Heartland Advisors Inc.

Heartland Advisors Inc. decreased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 13.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 547,027 shares of the company's stock after selling 88,281 shares during the period. Heartland Advisors Inc. owned approximately 0.07% of Coterra Energy worth $13,971,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP raised its position in Coterra Energy by 28.4% during the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company's stock worth $1,705,480,000 after acquiring an additional 15,736,247 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Coterra Energy by 5.9% during 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 during the period. Geode Capital Management LLC boosted its holdings in shares of Coterra Energy by 0.7% during the third quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company's stock worth $453,628,000 after purchasing an additional 128,397 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Coterra Energy by 5.0% in the fourth quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company's stock valued at $454,834,000 after purchasing an additional 845,609 shares during the period. Finally, Disciplined Growth Investors Inc. MN lifted its position in Coterra Energy by 5.6% during 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 period. 87.92% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the sale, the senior vice president now owns 126,770 shares of the company's stock, valued at $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kevin William Smith sold 25,733 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the transaction, the senior vice president now directly owns 106,114 shares in the company, valued at approximately $3,086,856.26. The trade was a 19.52 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

Coterra Energy Stock Performance

NYSE CTRA traded up $0.18 during trading hours on Tuesday, reaching $29.08. The company's stock had a trading volume of 1,557,132 shares, compared to its average volume of 6,094,810. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The business has a 50-day simple moving average of $27.90 and a 200 day simple moving average of $26.10. The stock has a market cap of $22.22 billion, a PE ratio of 17.52, a PEG ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95.

Coterra Energy Increases Dividend

The company also recently declared 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 an increase from Coterra Energy's previous quarterly dividend of $0.21. The ex-dividend date was Thursday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.03%. Coterra Energy's payout ratio is 58.28%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Truist Financial upped their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Raymond James dropped 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. Johnson Rice upgraded Coterra Energy from a "hold" rating to an "accumulate" rating and upped their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. UBS Group increased their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Finally, Piper Sandler boosted their target price on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Coterra Energy has an average rating of "Moderate Buy" and a consensus target price of $34.35.

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.