Sei Investments Co. Has $65.08 Million Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Sei Investments Co. cut its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,548,118 shares of the company’s stock after selling 4,677 shares during the period. Sei Investments Co. owned 0.35% of Coterra Energy worth $65,079,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Coterra Energy in the 3rd quarter valued at approximately $360,000. Advisors Asset Management Inc. raised its position in Coterra Energy by 2.1% during the third quarter. Advisors Asset Management Inc. now owns 65,668 shares of the company’s stock worth $1,573,000 after acquiring an additional 1,333 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in Coterra Energy by 101.2% in the third 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 last quarter. Raymond James Trust N.A. grew its position in shares of Coterra Energy by 30.7% in 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 acquired a new position in shares of Coterra Energy during the 3rd quarter worth about $445,000. 87.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CTRA has been the subject of several recent analyst reports. UBS Group raised 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 raised their price objective on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Williams Trading set a $37.00 target price on Coterra Energy in a report on Wednesday, March 5th. The Goldman Sachs Group raised their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.30.

Insider Buying and Selling at Coterra Energy

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

Coterra Energy Stock Performance

NYSE:CTRA opened at $28.73 on Monday. The company 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 Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. 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 fifty day moving average price of $27.94 and a 200-day moving average price of $25.85.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.06%. This is an increase 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%.

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.