Thrivent Financial for Lutherans Reduces Holdings in Coterra Energy Inc. (NYSE:CTRA)

Thrivent Financial for Lutherans trimmed its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 13.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 410,092 shares of the company's stock after selling 61,164 shares during the period. Thrivent Financial for Lutherans owned about 0.06% of Coterra Energy worth $10,474,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CTRA. City State Bank acquired a new position in Coterra Energy in the 4th quarter valued at $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 acquiring an additional 744 shares during the last quarter. MCF Advisors LLC increased its stake in shares of 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 buying an additional 869 shares during the period. R Squared Ltd acquired a new position in Coterra Energy in the 4th quarter valued at approximately $32,000. Finally, Plato Investment Management Ltd acquired a new stake in Coterra Energy in the fourth quarter valued at $43,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Down 1.4 %

CTRA stock traded down $0.42 on Wednesday, hitting $28.89. 7,677,319 shares of the company's stock were exchanged, compared to its average volume of 5,882,531. The firm has a 50 day moving average price of $27.96 and a two-hundred day moving average price of $25.93. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The stock has a market cap of $22.08 billion, a P/E ratio of 17.40, a price-to-earnings-growth 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.

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Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $0.22 dividend. The ex-dividend date is Thursday, March 13th. This is a positive change from Coterra Energy's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.05%. Coterra Energy's dividend payout ratio is currently 58.28%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Johnson Rice upgraded shares of Coterra Energy from a "hold" rating to an "accumulate" rating and increased their price objective for the stock from $34.00 to $37.00 in a research report on Wednesday, March 12th. Jefferies Financial Group upped their target price on Coterra Energy from $26.00 to $28.00 and gave the stock a "hold" rating in a research report on Tuesday, February 4th. Mizuho boosted their price objective on Coterra Energy from $37.00 to $40.00 and gave the stock an "outperform" rating in a report on Monday, December 16th. Truist Financial increased 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. Finally, Citigroup boosted their price objective on Coterra Energy from $28.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.30.

Insiders Place Their Bets

In related news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction on Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now owns 126,770 shares of the company's stock, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $748,572.97. Following the sale, the senior vice president now directly owns 106,114 shares of the company's stock, valued at $3,086,856.26. This represents a 19.52 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

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.