Coterra Energy Inc. (NYSE:CTRA) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 5.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,943,266 shares of the company’s stock after buying an additional 259,858 shares during the period. Bank of New York Mellon Corp owned approximately 0.67% of Coterra Energy worth $126,251,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in Coterra Energy by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after purchasing an additional 15,736,247 shares in the last quarter. Holocene Advisors LP lifted its position in Coterra Energy by 187.2% during the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock worth $108,572,000 after buying an additional 2,954,675 shares in the last quarter. Truist Financial Corp boosted its stake in Coterra Energy by 668.0% during the fourth quarter. Truist Financial Corp now owns 1,616,660 shares of the company’s stock worth $41,289,000 after buying an additional 1,406,170 shares during the last quarter. Weiss Asset Management LP purchased a new stake in Coterra Energy in the 3rd quarter valued at $28,380,000. Finally, Erste Asset Management GmbH acquired a new stake in shares of Coterra Energy in the 3rd quarter worth $21,555,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Up 2.3 %

CTRA opened at $27.01 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company has a market cap of $20.64 billion, a P/E ratio of 16.27, a PEG ratio of 0.59 and a beta of 0.26. The business’s 50-day simple moving average is $27.47 and its 200-day simple moving average is $25.49.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.26%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio (DPR) is presently 58.28%.

Insider Transactions at Coterra Energy

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

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Truist Financial lifted 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. Citigroup increased their price target on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Piper Sandler boosted their price objective on shares of Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Jefferies Financial Group increased their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and an average target price of $33.47.

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.