Zurcher Kantonalbank Zurich Cantonalbank Lowers Holdings in Coterra Energy Inc. (NYSE:CTRA)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 7.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 833,770 shares of the company's stock after selling 66,068 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.11% of Coterra Energy worth $21,294,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CTRA. Assetmark Inc. increased its holdings in shares of Coterra Energy by 11.7% during the 3rd quarter. Assetmark Inc. now owns 93,849 shares of the company's stock valued at $2,248,000 after purchasing an additional 9,840 shares in the last quarter. Venturi Wealth Management LLC grew its position in Coterra Energy by 1.4% during the third quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company's stock valued at $804,000 after buying an additional 474 shares during the period. Nations Financial Group Inc. IA ADV increased its holdings in Coterra Energy by 4.2% in the third quarter. Nations Financial Group Inc. IA ADV now owns 17,777 shares of the company's stock valued at $426,000 after buying an additional 724 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Coterra Energy by 2.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,650,859 shares of the company's stock worth $39,538,000 after acquiring an additional 40,569 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in shares of Coterra Energy during the 3rd quarter worth about $376,000. Hedge funds and other institutional investors own 87.92% of the company's stock.

Coterra Energy Price Performance

NYSE:CTRA opened at $26.87 on Wednesday. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The stock has a market cap of $20.53 billion, a PE ratio of 16.18, a P/E/G ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The stock has a 50 day moving average price of $27.68 and a 200 day moving average price of $25.62.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Coterra Energy's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.28%. Coterra Energy's dividend payout ratio (DPR) is 58.28%.

Analyst Ratings Changes

Several brokerages recently weighed in on CTRA. The Goldman Sachs Group lifted their price target on Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. 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 note on Tuesday, February 4th. Truist Financial increased their target price on Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Wells Fargo & Company boosted their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Finally, Susquehanna increased their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the company a "positive" rating in a report on Thursday, November 14th. Three investment 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's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $33.80.

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About Coterra Energy

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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