Commonwealth Equity Services LLC Acquires 100,035 Shares of Coterra Energy Inc. (NYSE:CTRA)

Commonwealth Equity Services LLC increased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 16.5% during the fourth quarter, HoldingsChannel reports. The fund owned 706,386 shares of the company’s stock after acquiring an additional 100,035 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Coterra Energy were worth $18,041,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its position in Coterra Energy by 1.4% in 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 during the last quarter. Czech National Bank increased its stake in Coterra Energy by 6.1% during the fourth quarter. Czech National Bank now owns 159,713 shares of the company’s stock valued at $4,079,000 after acquiring an additional 9,115 shares during the period. Bourgeon Capital Management LLC raised its holdings in Coterra Energy by 107.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock valued at $6,052,000 after acquiring an additional 122,487 shares in the last quarter. Hartford Funds Management Co LLC acquired a new position in Coterra Energy in the 3rd quarter valued at approximately $575,000. Finally, M.E. Allison & CO. Inc. bought a new stake in shares of Coterra Energy in the 4th quarter worth approximately $217,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

Coterra Energy stock opened at $28.16 on Tuesday. The stock has a 50-day simple moving average of $27.79 and a 200 day simple moving average of $25.71. The stock has a market capitalization of $21.52 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 0.59 and a beta of 0.26. 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.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.12%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, March 13th. Coterra Energy’s dividend payout ratio is presently 58.28%.

Insider Activity

In other news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the transaction, the senior vice president now owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on CTRA shares. Raymond James cut their target price on Coterra Energy from $41.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, March 12th. UBS Group increased their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Barclays lifted their target price on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and increased their price target for the stock from $34.00 to $37.00 in a research report on Wednesday, March 12th. Finally, Piper Sandler raised their price target on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $34.10.

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.