Corient Private Wealth LLC Sells 465,368 Shares of Coterra Energy Inc. (NYSE:CTRA)

Corient Private Wealth LLC lessened its position in Coterra Energy Inc. (NYSE:CTRA) by 71.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 187,892 shares of the company’s stock after selling 465,368 shares during the period. Corient Private Wealth LLC’s holdings in Coterra Energy were worth $4,799,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings 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 acquiring an additional 15,736,247 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 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 acquiring an additional 1,310,965 shares during the last quarter. Geode Capital Management LLC grew its holdings in Coterra Energy by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock worth $453,628,000 after acquiring an additional 128,397 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Coterra Energy by 5.0% in the 4th quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company’s stock worth $454,834,000 after acquiring an additional 845,609 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its holdings in Coterra Energy by 5.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock worth $128,085,000 after acquiring an additional 284,106 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the sale, the senior vice president now directly owns 106,114 shares in the company, valued at $3,086,856.26. The trade was a 19.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction that occurred 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 completion of the sale, 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 disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CTRA shares. UBS Group lifted their target price 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. Mizuho lifted their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Jefferies Financial Group lifted their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, February 4th. Citigroup lifted their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Truist Financial lifted their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Three 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 data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.14.

Coterra Energy Stock Down 1.0 %

Shares of Coterra Energy stock opened at $28.73 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. The stock has a market capitalization of $21.95 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The company has a 50-day simple moving average of $27.94 and a two-hundred day simple moving average of $25.82.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, March 13th. 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 3.06%. 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.