Vanguard Group Inc. Trims Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Vanguard Group Inc. lowered its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 0.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 88,518,973 shares of the company's stock after selling 381,076 shares during the period. Vanguard Group Inc. owned 12.02% of Coterra Energy worth $2,260,775,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of CTRA. Wellington Management Group LLP increased its holdings in Coterra Energy by 28.4% in the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company's stock worth $1,705,480,000 after purchasing an additional 15,736,247 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Coterra Energy by 5.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company's stock worth $599,356,000 after buying an additional 1,310,965 shares during the period. Geode Capital Management LLC increased its stake in shares of Coterra Energy by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company's stock valued at $453,628,000 after acquiring an additional 128,397 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Coterra Energy by 5.0% during the 4th quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company's stock valued at $454,834,000 after acquiring an additional 845,609 shares during the period. Finally, Disciplined Growth Investors Inc. MN boosted its stake in Coterra Energy by 5.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company's stock worth $128,085,000 after acquiring an additional 284,106 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

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Coterra Energy Stock Performance

Coterra Energy stock traded up $0.30 during mid-day trading on Monday, reaching $28.93. 4,766,044 shares of the company's stock were exchanged, compared to its average volume of 6,112,454. The business's fifty day simple moving average is $27.90 and its 200 day simple moving average is $26.10. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The firm has a market capitalization of $22.10 billion, a PE ratio of 17.42, a P/E/G ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The business also recently declared 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. The ex-dividend date was Thursday, March 13th. This represents a $0.88 annualized dividend and a yield of 3.04%. This is a positive change from Coterra Energy's previous quarterly dividend of $0.21. Coterra Energy's dividend payout ratio is presently 58.28%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Raymond James decreased their price target on shares of Coterra Energy from $41.00 to $37.00 and set an "outperform" rating for the company in a research note on Wednesday, March 12th. Piper Sandler increased 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. Barclays boosted their price objective on Coterra Energy from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. UBS Group increased their target price on Coterra Energy from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Finally, Jefferies Financial Group boosted their price target on shares of Coterra Energy from $26.00 to $28.00 and gave the company a "hold" rating in a research note on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Coterra Energy currently has an average rating of "Moderate Buy" and a consensus price target of $34.35.

Insider Buying and Selling

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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the 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 transaction, the senior vice president now directly 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 ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

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.