Wealthfront Advisers LLC raised its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 27.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 285,674 shares of the company's stock after acquiring an additional 62,110 shares during the period. Wealthfront Advisers LLC's holdings in Coterra Energy were worth $7,296,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. City State Bank bought a new stake in shares of Coterra Energy during the 4th quarter worth $26,000. AdvisorNet Financial Inc raised its stake in shares of 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 purchasing an additional 744 shares during the period. MCF Advisors LLC raised its stake in shares of 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 purchasing an additional 869 shares during the period. R Squared Ltd bought a new stake in shares of Coterra Energy during the 4th quarter worth $32,000. Finally, Plato Investment Management Ltd bought a new stake in Coterra Energy in the 4th quarter valued at about $43,000. 87.92% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Citigroup boosted their price objective on Coterra Energy from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Johnson Rice upgraded Coterra Energy from a "hold" rating to an "accumulate" rating and boosted their price objective for the company from $34.00 to $37.00 in a research note on Wednesday. Williams Trading set a $37.00 price objective on Coterra Energy in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lowered their price objective on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $34.10.
Get Our Latest Research Report on CTRA
Insider Buying and Selling
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 owns 126,770 shares in the company, valued at $3,374,617.40. The trade was a 21.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.70% of the stock is currently owned by corporate insiders.
Coterra Energy Price Performance
Shares of NYSE CTRA traded up $0.94 during midday trading on Friday, hitting $27.66. 5,671,683 shares of the company's stock were exchanged, compared to its average volume of 6,430,297. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The company has a market cap of $21.13 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 0.59 and a beta of 0.26. The business's fifty day moving average price is $27.75 and its two-hundred day moving average price is $25.67.
Coterra Energy Increases Dividend
The company 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 $0.22 dividend. This is an increase from Coterra Energy's previous quarterly dividend of $0.21. The ex-dividend date is Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.18%. Coterra Energy's payout ratio is presently 58.28%.
About Coterra Energy
(
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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