Coterra Energy Inc. (NYSE:CTRA) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,761,453 shares of the company’s stock after selling 36,075 shares during the period. King Luther Capital Management Corp owned about 0.92% of Coterra Energy worth $172,688,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. City State Bank purchased a new position in shares of Coterra Energy in the 4th quarter valued at about $26,000. AdvisorNet Financial Inc lifted its holdings in shares of Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after buying an additional 744 shares during the period. MCF Advisors LLC raised its holdings in Coterra Energy by 230.5% during the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after purchasing an additional 869 shares during the last quarter. R Squared Ltd acquired a new position in Coterra Energy during the fourth quarter worth $32,000. Finally, Plato Investment Management Ltd purchased a new position in Coterra Energy during the fourth quarter worth $43,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CTRA. Jefferies Financial Group raised their price target on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research report on Tuesday, February 4th. Piper Sandler boosted their price target on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Truist Financial boosted their price target on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. UBS Group upped their price objective on Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Raymond James upped their target price on Coterra Energy from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating, seventeen 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 a consensus target price of $33.80.

Coterra Energy Stock Performance

CTRA opened at $26.73 on Tuesday. The company has a market capitalization of $20.42 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The business has a 50 day moving average price of $27.65 and a two-hundred day moving average price of $25.60.

Coterra Energy Increases Dividend

The business also recently disclosed 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 3.29%. 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. Coterra Energy’s dividend payout ratio is 58.28%.

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.