Heartland Advisors Inc. Sells 88,281 Shares of Coterra Energy Inc. (NYSE:CTRA)

Heartland Advisors Inc. trimmed its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 13.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 547,027 shares of the company’s stock after selling 88,281 shares during the quarter. Heartland Advisors Inc. owned 0.07% of Coterra Energy worth $13,971,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Czech National Bank lifted its holdings in shares of Coterra Energy by 6.1% in the 4th quarter. Czech National Bank now owns 159,713 shares of the company’s stock worth $4,079,000 after buying an additional 9,115 shares during the period. Bourgeon Capital Management LLC increased its holdings in Coterra Energy by 107.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock valued at $6,052,000 after buying an additional 122,487 shares during the period. M.E. Allison & CO. Inc. bought a new position in Coterra Energy in the fourth quarter worth approximately $217,000. Barclays PLC lifted its holdings in Coterra Energy by 3.1% during the third quarter. Barclays PLC now owns 2,147,263 shares of the company’s stock worth $51,425,000 after buying an additional 64,753 shares during the period. Finally, Range Financial Group LLC bought a new stake in Coterra Energy during the 4th quarter valued at $1,267,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CTRA shares. Piper Sandler upped their price objective on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Raymond James decreased their price target on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, March 12th. Barclays boosted their price objective on shares of Coterra Energy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 18th. Williams Trading set a $37.00 target price on shares of Coterra Energy in a research report on Wednesday, March 5th. Finally, Mizuho lifted their price target on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.35.

Coterra Energy Stock Down 1.2 %

Shares of CTRA stock opened at $28.51 on Friday. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The stock has a market cap of $21.79 billion, a P/E ratio of 17.18, a P/E/G ratio of 0.59 and a beta of 0.26. The stock has a 50 day moving average of $27.93 and a 200 day moving average of $25.97. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $0.22 dividend. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Thursday, March 13th. Coterra Energy’s payout ratio is currently 58.28%.

Insider Buying and Selling

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

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.