Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Swiss National Bank

Swiss National Bank lowered its holdings in Coterra Energy Inc. (NYSE:CTRA) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,088,420 shares of the company’s stock after selling 120,600 shares during the period. Swiss National Bank owned 0.28% of Coterra Energy worth $53,338,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Coterra Energy by 2.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,650,859 shares of the company’s stock worth $39,538,000 after acquiring an additional 40,569 shares during the period. Metis Global Partners LLC increased its position in Coterra Energy by 9.7% during the third quarter. Metis Global Partners LLC now owns 32,074 shares of the company’s stock worth $768,000 after purchasing an additional 2,844 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Coterra Energy by 4.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 28,489 shares of the company’s stock valued at $682,000 after purchasing an additional 1,197 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Coterra Energy by 6.4% during the 3rd quarter. CIBC Asset Management Inc now owns 126,561 shares of the company’s stock valued at $3,031,000 after buying an additional 7,649 shares during the period. Finally, Empirical Finance LLC grew its stake in shares of Coterra Energy by 1.6% during the 3rd quarter. Empirical Finance LLC now owns 41,259 shares of the company’s stock valued at $988,000 after buying an additional 642 shares during the period. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Up 3.5 %

CTRA stock opened at $27.66 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The firm has a 50 day simple moving average of $27.75 and a 200-day simple moving average of $25.67. The company has a market capitalization of $21.13 billion, a P/E ratio of 16.66, a PEG ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $0.22 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.18%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is presently 58.28%.

Insider Activity

In other news, SVP Michael D. Deshazer sold 35,377 shares of the business’s 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 completion of the sale, the senior vice president now directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Jefferies Financial Group lifted their target price on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, February 4th. UBS Group lifted their price objective on Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Mizuho boosted their target price on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Piper Sandler raised their price target on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Coterra Energy 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.