Addison Capital Co Sells 2,731 Shares of Coterra Energy Inc. (NYSE:CTRA)

Addison Capital Co trimmed its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,044 shares of the company’s stock after selling 2,731 shares during the period. Addison Capital Co’s holdings in Coterra Energy were worth $2,095,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Coterra Energy by 28.4% during 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 purchasing an additional 15,736,247 shares during the period. Holocene Advisors LP boosted its position in Coterra Energy by 187.2% in the 3rd quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock valued at $108,572,000 after buying an additional 2,954,675 shares during the period. Raymond James Financial Inc. bought a new position in Coterra Energy in the 4th quarter worth about $61,461,000. Truist Financial Corp boosted its holdings in shares of Coterra Energy by 668.0% in the fourth quarter. Truist Financial Corp now owns 1,616,660 shares of the company’s stock valued at $41,289,000 after purchasing an additional 1,406,170 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Coterra Energy by 5.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock worth $599,356,000 after buying an additional 1,310,965 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

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 on Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the transaction, the senior vice president now owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is currently owned by corporate insiders.

Coterra Energy Price Performance

Shares of CTRA opened at $27.66 on Monday. The business’s 50-day moving average is $27.75 and its two-hundred day moving average is $25.68. The company has a market capitalization of $21.13 billion, a P/E ratio of 16.66, a P/E/G ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. 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 Increases Dividend

The business also recently declared 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. This represents a $0.88 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Thursday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is currently 58.28%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group lifted their price objective on Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Raymond James dropped their price objective 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. JPMorgan Chase & Co. reduced their price target on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday. Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and boosted their price objective for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. Finally, Piper Sandler increased their price target on Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.