Xponance Inc. Lowers Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Xponance Inc. trimmed its stake in Coterra Energy Inc. (NYSE:CTRA) by 2.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 96,327 shares of the company’s stock after selling 2,250 shares during the period. Xponance Inc.’s holdings in Coterra Energy were worth $2,460,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CTRA. City State Bank purchased a new stake in Coterra Energy in the fourth quarter valued at approximately $26,000. AdvisorNet Financial Inc raised 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 shares of Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after buying an additional 869 shares during the period. R Squared Ltd acquired a new position in Coterra Energy during the 4th quarter worth about $32,000. Finally, Plato Investment Management Ltd purchased a new position in Coterra Energy during the 4th quarter valued at about $43,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Down 1.0 %

CTRA opened at $28.73 on Friday. The business has a 50 day moving average price of $27.94 and a two-hundred day moving average price of $25.82. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The company has a market cap of $21.95 billion, a PE ratio of 17.31, a P/E/G 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 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 issued a dividend of $0.22 per share. 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. This represents a $0.88 annualized dividend and a dividend yield of 3.06%. Coterra Energy’s dividend payout ratio (DPR) is currently 58.28%.

Insider Activity 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 stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin William Smith sold 25,733 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the transaction, the senior vice president now owns 106,114 shares in the company, valued at $3,086,856.26. The trade was a 19.52 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on CTRA. Mizuho increased their price target on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and upped their target price for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. UBS Group increased their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Truist Financial lifted their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Citigroup increased their target price on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. 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 company. According to data from MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and an average price target of $34.14.

About Coterra Energy

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.