Checchi Capital Advisers LLC Acquires 824 Shares of Coterra Energy Inc. (NYSE:CTRA)

Checchi Capital Advisers LLC raised its stake in Coterra Energy Inc. (NYSE:CTRA) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,311 shares of the company’s stock after purchasing an additional 824 shares during the period. Checchi Capital Advisers LLC’s holdings in Coterra Energy were worth $289,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CTRA. Wellington Management Group LLP grew its stake in shares of Coterra Energy by 28.4% in the third 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 in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Coterra Energy by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after purchasing an additional 305,626 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Coterra Energy by 0.7% in the third quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock worth $453,628,000 after purchasing an additional 128,397 shares during the period. Victory Capital Management Inc. lifted its position in Coterra Energy by 1.2% during the third quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after purchasing an additional 195,966 shares during the period. Finally, Disciplined Growth Investors Inc. MN grew 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 buying an additional 284,106 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

Insider Activity at Coterra Energy

In related news, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the sale, the senior vice president now owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. This represents a 27.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.70% of the stock is currently owned by insiders.

Coterra Energy Stock Performance

CTRA opened at $26.40 on Friday. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The company has a market cap of $19.44 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 0.59 and a beta of 0.26. 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’s fifty day moving average price is $27.35 and its two-hundred day moving average price is $25.46.

Coterra Energy Increases Dividend

The business 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 is a boost from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.33%. Coterra Energy’s payout ratio is presently 50.60%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CTRA shares. Barclays increased their price target on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday. Stephens boosted their target price on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Truist Financial upped their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Citigroup raised their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Morgan Stanley increased their price target on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Three equities research 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.47.

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.