Sound Shore Management Inc. CT Sells 74,554 Shares of Coterra Energy Inc. (NYSE:CTRA)

Sound Shore Management Inc. CT trimmed its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,941,842 shares of the company's stock after selling 74,554 shares during the period. Coterra Energy makes up about 3.3% of Sound Shore Management Inc. CT's portfolio, making the stock its 4th largest holding. Sound Shore Management Inc. CT owned 0.54% of Coterra Energy worth $100,675,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTRA. Czech National Bank grew its stake in shares of Coterra Energy by 6.1% in the 4th quarter. Czech National Bank now owns 159,713 shares of the company's stock worth $4,079,000 after purchasing an additional 9,115 shares during the last quarter. Bourgeon Capital Management LLC boosted its holdings in Coterra Energy by 107.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company's stock worth $6,052,000 after buying an additional 122,487 shares in the last quarter. Hartford Funds Management Co LLC acquired a new position in Coterra Energy in the third quarter worth approximately $575,000. M.E. Allison & CO. Inc. acquired a new position in Coterra Energy in the fourth quarter worth approximately $217,000. Finally, Barclays PLC increased its holdings in shares of Coterra Energy by 3.1% in the third quarter. Barclays PLC now owns 2,147,263 shares of the company's stock valued at $51,425,000 after buying an additional 64,753 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

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Coterra Energy Stock Up 0.4 %

CTRA traded up $0.13 during midday trading on Friday, hitting $28.65. 3,070,377 shares of the company's stock traded hands, compared to its average volume of 6,117,836. 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 company has a market cap of $21.89 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The stock's fifty day simple moving average is $27.91 and its 200-day simple moving average is $26.01. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from Coterra Energy's previous quarterly dividend of $0.21. Coterra Energy's payout ratio is presently 58.28%.

Insider Activity at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was 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 directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were 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 trade represents a 19.52 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

CTRA has been the topic of a number of recent research reports. Truist Financial lifted their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a report on Monday, January 13th. UBS Group increased their price target on Coterra Energy from $35.00 to $37.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Johnson Rice upgraded Coterra Energy from a "hold" rating to an "accumulate" rating and boosted their price objective for the stock from $34.00 to $37.00 in a report on Wednesday, March 12th. 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 research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Coterra Energy has an average rating of "Moderate Buy" and a consensus price target of $34.35.

Coterra Energy 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.