Frank Rimerman Advisors LLC Takes $236,000 Position in Coterra Energy Inc. (NYSE:CTRA)

Frank Rimerman Advisors LLC purchased a new stake in Coterra Energy Inc. (NYSE:CTRA) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 9,260 shares of the company’s stock, valued at approximately $236,000.

Other large investors have also made changes to their positions in the company. Wellington Management Group LLP increased its holdings in Coterra Energy by 28.4% during the 3rd 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. Holocene Advisors LP increased its holdings in Coterra Energy by 187.2% during the 3rd quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock valued at $108,572,000 after acquiring an additional 2,954,675 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Coterra Energy during the 4th quarter valued at about $61,461,000. Truist Financial Corp increased its holdings in Coterra Energy by 668.0% during the 4th quarter. Truist Financial Corp now owns 1,616,660 shares of the company’s stock valued at $41,289,000 after acquiring an additional 1,406,170 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Coterra Energy by 5.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock valued at $599,356,000 after acquiring an additional 1,310,965 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CTRA. Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and raised their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. The Goldman Sachs Group raised their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Raymond James decreased their price target on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. UBS Group raised their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average target price of $34.10.

Insider Buying and Selling at Coterra Energy

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

Coterra Energy Trading Up 1.9 %

Shares of CTRA stock opened at $28.16 on Tuesday. The stock has a market cap of $21.52 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth 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 fifty-two week low of $22.30 and a fifty-two week high of $29.95. The firm’s 50 day moving average price is $27.79 and its two-hundred day moving average price is $25.71.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 yield of 3.12%. 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. Coterra Energy’s payout ratio is 58.28%.

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.