Verdence Capital Advisors LLC decreased its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 69.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,805 shares of the company's stock after selling 20,063 shares during the quarter. Verdence Capital Advisors LLC's holdings in Coterra Energy were worth $225,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in Coterra Energy by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company's stock valued at $1,705,480,000 after acquiring an additional 15,736,247 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Coterra Energy by 5.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company's stock valued at $599,356,000 after purchasing an additional 1,310,965 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Coterra Energy by 0.7% during the third quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company's stock worth $453,628,000 after buying an additional 128,397 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Coterra Energy by 5.0% in the fourth 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 in the last quarter. Finally, Disciplined Growth Investors Inc. MN increased its holdings in shares of 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 purchasing an additional 284,106 shares during the period. 87.92% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on CTRA. Susquehanna boosted their target price on shares of Coterra Energy from $30.00 to $33.00 and gave the company a "positive" rating in a research report on Thursday, November 14th. Citigroup increased their price target on Coterra Energy from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. The Goldman Sachs Group upped their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. UBS Group lifted their price target on Coterra Energy from $35.00 to $37.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Finally, Jefferies Financial Group upped their price objective on Coterra Energy from $26.00 to $28.00 and gave the company a "hold" rating in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Coterra Energy has an average rating of "Moderate Buy" and an average target price of $33.63.
Get Our Latest Report on Coterra Energy
Coterra Energy Stock Performance
CTRA traded up $0.55 on Monday, hitting $26.64. The company's stock had a trading volume of 1,960,208 shares, compared to its average volume of 6,323,243. The company's 50 day simple moving average is $27.63 and its 200-day simple moving average is $25.58. 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 12 month low of $22.30 and a 12 month high of $29.95. The firm has a market cap of $20.36 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26.
Coterra Energy Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.30%. This is a boost from Coterra Energy's previous quarterly dividend of $0.21. The ex-dividend date is Thursday, March 13th. Coterra Energy's payout ratio is presently 58.28%.
Coterra Energy Company Profile
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Free Report)
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.
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