Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Pitcairn Co.

Pitcairn Co. cut its holdings in Coterra Energy Inc. (NYSE:CTRA) by 23.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 22,642 shares of the company’s stock after selling 6,767 shares during the period. Pitcairn Co.’s holdings in Coterra Energy were worth $578,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Czech National Bank grew its holdings in shares of Coterra Energy by 6.1% during the fourth quarter. Czech National Bank now owns 159,713 shares of the company’s stock valued at $4,079,000 after purchasing an additional 9,115 shares during the last quarter. Bourgeon Capital Management LLC grew its stake in Coterra Energy by 107.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock worth $6,052,000 after buying an additional 122,487 shares during the last quarter. M.E. Allison & CO. Inc. acquired a new stake in Coterra Energy in the fourth quarter worth $217,000. Barclays PLC lifted its stake in Coterra Energy by 3.1% in the third quarter. Barclays PLC now owns 2,147,263 shares of the company’s stock valued at $51,425,000 after buying an additional 64,753 shares during the last quarter. Finally, Range Financial Group LLC acquired a new position in shares of Coterra Energy during the fourth quarter valued at $1,267,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Down 8.3 %

Shares of Coterra Energy stock opened at $25.09 on Friday. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The firm has a market capitalization of $19.17 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 0.59 and a beta of 0.47. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock’s fifty day moving average is $27.78 and its 200-day moving average is $26.21.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 3.51%. Coterra Energy’s dividend payout ratio is currently 58.28%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. UBS Group lifted 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 increased their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Mizuho lifted their target price on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Barclays boosted their price target on Coterra Energy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 18th. Finally, Williams Trading set a $37.00 price target on Coterra Energy in a report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and a consensus target price of $34.35.

Insiders Place Their Bets

In other news, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction 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 completion of the sale, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction 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 transaction, the senior vice president now owns 106,114 shares in the company, valued at $3,086,856.26. This represents a 19.52 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

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.