Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lessened its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 35.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,114,020 shares of the company's stock after selling 1,175,900 shares during the quarter. Primecap Management Co. CA owned about 0.29% of Coterra Energy worth $53,992,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. City State Bank bought a new position in shares of Coterra Energy during the 4th quarter worth approximately $26,000. AdvisorNet Financial Inc grew its position in Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company's stock worth $29,000 after purchasing an additional 744 shares during the last quarter. MCF Advisors LLC grew its position in Coterra Energy by 230.5% during the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company's stock worth $32,000 after purchasing an additional 869 shares during the last quarter. R Squared Ltd purchased a new stake in Coterra Energy during the 4th quarter worth approximately $32,000. Finally, Plato Investment Management Ltd purchased a new stake in Coterra Energy during the 4th quarter worth approximately $43,000. Institutional investors own 87.92% of the company's stock.

Analyst Upgrades and Downgrades

CTRA has been the topic of several research analyst reports. The Goldman Sachs Group boosted their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Jefferies Financial Group boosted their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the stock a "hold" rating in a research report on Tuesday, February 4th. Raymond James dropped their target price on shares of Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 12th. Truist Financial boosted their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Finally, Piper Sandler upped their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the company an "overweight" rating in a report on Thursday, March 6th. 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, the stock presently has an average rating of "Moderate Buy" and an average target price of $34.14.

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Coterra Energy Stock Performance

NYSE CTRA traded down $0.28 during mid-day trading on Friday, reaching $28.73. 20,651,024 shares of the stock were exchanged, compared to its average volume of 5,878,576. The business's 50 day moving average is $27.94 and its 200-day moving average is $25.82. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The company has a market capitalization of $21.95 billion, a P/E ratio of 17.31, a P/E/G ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

Coterra Energy Increases Dividend

The business 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. The ex-dividend date is Thursday, March 13th. This is a boost from Coterra Energy's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 3.06%. Coterra Energy's dividend payout ratio is currently 58.28%.

Insiders Place Their Bets

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the company's 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 in the company, valued at approximately $3,086,856.26. This represents a 19.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction dated 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 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 disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

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.