Wells Fargo & Company MN Has $55.71 Million Position in Coterra Energy Inc. (NYSE:CTRA)

Wells Fargo & Company MN grew its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 16.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,181,198 shares of the company's stock after acquiring an additional 302,327 shares during the period. Wells Fargo & Company MN owned about 0.30% of Coterra Energy worth $55,708,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CTRA. Private Trust Co. NA grew its position in Coterra Energy by 20.0% during the fourth quarter. Private Trust Co. NA now owns 2,140 shares of the company's stock worth $55,000 after buying an additional 356 shares during the period. CENTRAL TRUST Co boosted its position in Coterra Energy by 1.8% during the fourth quarter. CENTRAL TRUST Co now owns 21,881 shares of the company's stock worth $559,000 after purchasing an additional 389 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in Coterra Energy by 3.8% in the fourth quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company's stock valued at $288,000 after purchasing an additional 413 shares during the last quarter. Blue Trust Inc. increased its position in shares of Coterra Energy by 5.8% in the fourth quarter. Blue Trust Inc. now owns 7,620 shares of the company's stock valued at $182,000 after buying an additional 420 shares in the last quarter. Finally, New York Life Investment Management LLC raised its stake in shares of Coterra Energy by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 99,584 shares of the company's stock worth $2,543,000 after buying an additional 421 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insider Transactions at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction 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 owns 106,114 shares in the company, valued at $3,086,856.26. This trade represents a 19.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the sale, the senior vice president now owns 126,770 shares of the company's stock, valued at $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 company insiders.

Coterra Energy Stock Up 0.6 %

Shares of CTRA traded up $0.15 during trading hours on Monday, reaching $25.31. The company's stock had a trading volume of 536,139 shares, compared to its average volume of 6,202,258. The company has a 50 day moving average of $27.38 and a two-hundred day moving average of $26.29. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm has a market cap of $19.34 billion, a price-to-earnings ratio of 15.25, a P/E/G ratio of 0.59 and a beta of 0.47. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.48%. This is a positive change from Coterra Energy's previous quarterly dividend of $0.21. Coterra Energy's dividend payout ratio (DPR) is 58.28%.

Analyst Ratings Changes

CTRA has been the subject of several recent research reports. Morgan Stanley dropped their target price on shares of Coterra Energy from $32.00 to $30.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. Jefferies Financial Group upped their target price on Coterra Energy from $26.00 to $28.00 and gave the company a "hold" rating in a research note on Tuesday, February 4th. Mizuho upped their price objective on Coterra Energy from $37.00 to $40.00 and gave the company an "outperform" rating in a research report on Monday, December 16th. Williams Trading set a $37.00 target price on shares of Coterra Energy in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group lifted their target price on Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Coterra Energy presently has an average rating of "Moderate Buy" and a consensus price target of $34.20.

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.