Prudential Financial Inc. Has $20.60 Million Position in Coterra Energy Inc. (NYSE:CTRA)

Prudential Financial Inc. lifted its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 53.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 806,426 shares of the company’s stock after acquiring an additional 281,817 shares during the period. Prudential Financial Inc. owned approximately 0.11% of Coterra Energy worth $20,596,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Raymond James Trust N.A. boosted its holdings 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 purchasing an additional 2,890 shares in the last quarter. Cerity Partners LLC boosted its stake in Coterra Energy by 32.6% in the third quarter. Cerity Partners LLC now owns 341,634 shares of the company’s stock valued at $8,182,000 after buying an additional 83,998 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Coterra Energy by 10.9% in the third quarter. Daiwa Securities Group Inc. now owns 90,377 shares of the company’s stock valued at $2,165,000 after acquiring an additional 8,875 shares during the last quarter. Truvestments Capital LLC acquired a new position in Coterra Energy during the third quarter worth about $115,000. Finally, D.A. Davidson & CO. lifted its holdings in shares of Coterra Energy by 9.3% in the third quarter. D.A. Davidson & CO. now owns 25,767 shares of the company’s stock worth $617,000 after acquiring an additional 2,202 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insider Activity at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of the company’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 transaction of $748,572.97. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were 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 of the company’s stock, valued at $3,374,617.40. This trade represents a 21.82 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CTRA shares. Jefferies Financial Group lifted their price target on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Williams Trading set a $37.00 price objective on Coterra Energy in a report on Wednesday, March 5th. Piper Sandler increased their target price on Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Finally, Mizuho boosted their price target on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.30.

Coterra Energy Trading Down 1.4 %

NYSE CTRA opened at $28.89 on Thursday. The stock has a market capitalization of $22.08 billion, a P/E ratio of 17.40, a P/E/G ratio of 0.59 and a beta of 0.26. The business has a 50 day simple moving average of $27.96 and a 200 day simple moving average of $25.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.22 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.05%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is currently 58.28%.

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.