Tocqueville Asset Management L.P. Lowers Position in Coterra Energy Inc. (NYSE:CTRA)

Tocqueville Asset Management L.P. lowered its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 71.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,300 shares of the company's stock after selling 58,894 shares during the period. Tocqueville Asset Management L.P.'s holdings in Coterra Energy were worth $595,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CTRA. City State Bank bought a new position in shares of Coterra Energy during the fourth quarter worth about $26,000. AdvisorNet Financial Inc boosted its position in Coterra Energy by 192.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company's stock valued at $29,000 after acquiring an additional 744 shares during the last quarter. MCF Advisors LLC grew its holdings 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 acquiring an additional 869 shares during the period. R Squared Ltd acquired a new stake in Coterra Energy during the 4th quarter worth about $32,000. Finally, Plato Investment Management Ltd bought a new position in shares of Coterra Energy in the 4th quarter worth about $43,000. Institutional investors and hedge funds own 87.92% of the company's stock.

Coterra Energy Stock Performance

NYSE:CTRA traded up $0.65 during trading hours on Monday, reaching $29.37. The stock had a trading volume of 6,177,812 shares, compared to its average volume of 5,875,575. The stock has a market cap of $22.44 billion, a P/E ratio of 17.69, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The stock has a 50 day simple moving average of $27.94 and a 200 day simple moving average of $25.85. 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 Inc. has a 12-month low of $22.30 and a 12-month high of $29.95.

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Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $0.22 dividend. 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 3.00%. The ex-dividend date of this dividend is Thursday, March 13th. Coterra Energy's payout ratio is currently 58.28%.

Insiders Place Their Bets

In related news, SVP Kevin William Smith sold 25,733 shares of the company's 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of the firm's stock in a transaction that occurred 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 $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group raised their target price on Coterra Energy from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Williams Trading set a $37.00 price target on shares of Coterra Energy in a report on Wednesday, March 5th. Mizuho upped their price target on Coterra Energy from $37.00 to $40.00 and gave the stock an "outperform" rating in a research note on Monday, December 16th. Truist Financial raised their price objective on Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Finally, 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. 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 MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $34.30.

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.