Invesco Ltd. Raises Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Invesco Ltd. grew its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,232,484 shares of the company's stock after buying an additional 1,011,166 shares during the quarter. Invesco Ltd. owned 1.66% of Coterra Energy worth $312,418,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Private Trust Co. NA lifted its holdings in shares of Coterra Energy by 20.0% during the fourth quarter. Private Trust Co. NA now owns 2,140 shares of the company's stock valued at $55,000 after purchasing an additional 356 shares in the last quarter. CENTRAL TRUST Co lifted its stake in Coterra Energy by 1.8% during the 4th quarter. CENTRAL TRUST Co now owns 21,881 shares of the company's stock valued at $559,000 after acquiring an additional 389 shares during the period. Arkadios Wealth Advisors boosted its holdings in shares of Coterra Energy by 3.8% during the 4th quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company's stock valued at $288,000 after acquiring an additional 413 shares during the last quarter. Blue Trust Inc. boosted its holdings in Coterra Energy by 5.8% in the fourth quarter. Blue Trust Inc. now owns 7,620 shares of the company's stock worth $182,000 after purchasing an additional 420 shares during the last quarter. Finally, New York Life Investment Management LLC lifted its holdings in shares of Coterra Energy by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 99,584 shares of the company's stock valued at $2,543,000 after buying an additional 421 shares during the period. 87.92% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

CTRA has been the subject of a number of research reports. Jefferies Financial Group upped their price objective on Coterra Energy from $26.00 to $28.00 and gave the company a "hold" rating in a research report on Tuesday, February 4th. Truist Financial upped their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a report on Monday, January 13th. Johnson Rice upgraded shares of Coterra Energy from a "hold" rating to an "accumulate" rating and lifted their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. Mizuho boosted their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the company an "outperform" rating in a research report on Monday, December 16th. Finally, Scotiabank decreased their target price on Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating on the stock in a report on Friday. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Coterra Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.20.

Insiders Place Their Bets

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the transaction, the senior vice president now directly owns 106,114 shares of the company's stock, valued at $3,086,856.26. The trade was a 19.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the completion of the sale, the senior vice president now directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. This represents a 21.82 % 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 Coterra Energy stock traded up $0.11 during trading on Tuesday, reaching $25.33. 1,350,859 shares of the stock traded hands, compared to its average volume of 6,200,294. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week 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 business has a fifty day simple moving average of $27.32 and a two-hundred day simple moving average of $26.30. The company has a market capitalization of $19.36 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 0.59 and a beta of 0.47.

Coterra Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from Coterra Energy's previous quarterly dividend of $0.21. Coterra Energy's dividend payout ratio (DPR) 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.