O Shaughnessy Asset Management LLC Reduces Holdings in Coterra Energy Inc. (NYSE:CTRA)

O Shaughnessy Asset Management LLC lessened its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 90.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,526 shares of the company's stock after selling 495,796 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in Coterra Energy were worth $1,290,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Hartree Partners LP purchased a new position in Coterra Energy in the 4th quarter valued at approximately $5,619,000. Schroder Investment Management Group raised its stake in shares of Coterra Energy by 18.2% during the 4th quarter. Schroder Investment Management Group now owns 11,776,525 shares of the company's stock worth $300,537,000 after buying an additional 1,809,615 shares during the last quarter. Allstate Corp purchased a new stake in shares of Coterra Energy in the 4th quarter worth about $547,000. DnB Asset Management AS grew its stake in Coterra Energy by 1.2% in the 4th quarter. DnB Asset Management AS now owns 141,423 shares of the company's stock valued at $3,612,000 after acquiring an additional 1,659 shares during the last quarter. Finally, Orion Portfolio Solutions LLC increased its holdings in Coterra Energy by 16.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 104,325 shares of the company's stock valued at $2,664,000 after acquiring an additional 14,894 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company's stock.

Coterra Energy Trading Up 1.7 %

NYSE:CTRA traded up $0.43 on Friday, hitting $25.13. 7,199,604 shares of the stock were exchanged, compared to its average volume of 6,217,970. The stock has a fifty day moving average of $27.38 and a 200-day moving average of $26.27. The stock has a market cap of $19.20 billion, a PE ratio of 15.14, a PEG ratio of 0.59 and a beta of 0.47. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

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Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Coterra Energy's previous quarterly dividend of $0.21. Coterra Energy's dividend payout ratio is 58.28%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the firm'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 transaction, the senior vice president now directly owns 126,770 shares of the company's stock, valued at $3,374,617.40. This trade 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 this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the transaction, the senior vice president now owns 106,114 shares in the company, 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. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. The Goldman Sachs Group increased their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Raymond James lowered their target price on Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a report on Wednesday, March 12th. Piper Sandler boosted their price target on Coterra Energy from $34.00 to $37.00 and gave the stock an "overweight" rating in a report on Thursday, March 6th. Jefferies Financial Group increased 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. Finally, Morgan Stanley cut their target price on shares of Coterra Energy from $32.00 to $30.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Coterra Energy has an average rating of "Moderate Buy" and an average price target of $34.20.

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.