Thrivent Financial for Lutherans Sells 61,164 Shares of Coterra Energy Inc. (NYSE:CTRA)

Thrivent Financial for Lutherans decreased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 13.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 410,092 shares of the company’s stock after selling 61,164 shares during the quarter. Thrivent Financial for Lutherans owned about 0.06% of Coterra Energy worth $10,474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CTRA. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Coterra Energy during the 3rd quarter valued at $360,000. Advisors Asset Management Inc. raised its holdings in Coterra Energy by 2.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 65,668 shares of the company’s stock valued at $1,573,000 after acquiring an additional 1,333 shares during the period. Eagle Asset Management Inc. raised its holdings in Coterra Energy by 101.2% during the 3rd quarter. Eagle Asset Management Inc. now owns 387,665 shares of the company’s stock valued at $9,529,000 after acquiring an additional 194,986 shares during the period. Raymond James Trust N.A. raised its holdings in Coterra Energy by 30.7% during the 3rd quarter. Raymond James Trust N.A. now owns 12,296 shares of the company’s stock valued at $294,000 after acquiring an additional 2,890 shares during the period. Finally, Meridian Wealth Management LLC bought a new stake in Coterra Energy during the 3rd quarter valued at $445,000. Institutional investors own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CTRA. Raymond James lowered their target price on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Citigroup boosted their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. The Goldman Sachs Group boosted their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Jefferies Financial Group boosted their price target on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research report on Tuesday, February 4th. Finally, Mizuho boosted their price target on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.30.

Coterra Energy Stock Performance

NYSE CTRA opened at $28.73 on Friday. The company has a 50-day simple moving average of $27.94 and a two-hundred day simple moving average of $25.83. 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 Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The firm has a market cap of $21.95 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.06%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, March 13th. Coterra Energy’s dividend payout ratio is presently 58.28%.

Insider Buying and Selling at Coterra Energy

In other news, SVP Kevin William Smith sold 25,733 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the transaction, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. This represents a 19.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the transaction, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

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.