Intact Investment Management Inc. lowered its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 19.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 158,100 shares of the company's stock after selling 38,000 shares during the quarter. Intact Investment Management Inc.'s holdings in Coterra Energy were worth $4,038,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in CTRA. City State Bank bought a new position in shares of Coterra Energy in the fourth quarter worth $26,000. AdvisorNet Financial Inc increased its stake in Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company's stock valued at $29,000 after acquiring an additional 744 shares during the last quarter. MCF Advisors LLC increased its stake in Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company's stock valued at $32,000 after acquiring an additional 869 shares during the last quarter. R Squared Ltd bought a new position in Coterra Energy in the fourth quarter valued at $32,000. Finally, Plato Investment Management Ltd bought a new position in Coterra Energy in the fourth quarter valued at $43,000. Institutional investors own 87.92% of the company's stock.
Coterra Energy Stock Up 1.6 %
Coterra Energy stock traded up $0.46 during trading hours on Wednesday, hitting $29.23. 7,605,633 shares of the stock traded hands, compared to its average volume of 5,838,956. The firm's 50-day moving average price is $27.84 and its two-hundred day moving average price is $25.74. 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 company has a market cap of $22.33 billion, a PE ratio of 17.61, a PEG ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95.
Coterra Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.01%. This is a boost from Coterra Energy's previous quarterly dividend of $0.21. The ex-dividend date is Thursday, March 13th. Coterra Energy's payout ratio is presently 58.28%.
Insider Buying and Selling at Coterra Energy
In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.70% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently commented on CTRA. Johnson Rice raised Coterra Energy from a "hold" rating to an "accumulate" rating and increased their target price for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. The Goldman Sachs Group raised their price objective on Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Truist Financial raised their price objective on 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 reduced their price objective on Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 12th. Finally, Jefferies Financial Group raised their price objective on Coterra Energy from $26.00 to $28.00 and gave the company a "hold" rating in a research note on Tuesday, February 4th. 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.com, Coterra Energy presently has an average rating of "Moderate Buy" and a consensus price target of $34.14.
Read Our Latest Analysis on Coterra Energy
About Coterra Energy
(
Free Report)
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.
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