Pinnacle Holdings LLC Purchases New Position in Coterra Energy Inc. (NYSE:CTRA)

Pinnacle Holdings LLC acquired a new stake in Coterra Energy Inc. (NYSE:CTRA) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 4,818 shares of the company’s stock, valued at approximately $123,000.

A number of other hedge funds have also recently added to or reduced their stakes in CTRA. City State Bank bought a new position in shares of Coterra Energy in the 4th quarter valued at $26,000. AdvisorNet Financial Inc raised its position in Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after purchasing an additional 744 shares during the last quarter. MCF Advisors LLC raised its position in Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Coterra Energy during the fourth quarter valued at about $32,000. Finally, Plato Investment Management Ltd bought a new stake in shares of Coterra Energy during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Piper Sandler raised their price objective 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. Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and raised their price target for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. UBS Group decreased their price objective on Coterra Energy from $37.00 to $33.00 and set a “buy” rating for the company in a report on Monday. Mizuho raised their target price on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. decreased their price target on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.15.

Coterra Energy Trading Down 1.7 %

NYSE CTRA opened at $24.62 on Wednesday. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The business has a 50 day moving average price of $27.59 and a 200-day moving average price of $26.24. The company has a market cap of $18.82 billion, a price-to-earnings ratio of 14.83, a P/E/G ratio of 0.59 and a beta of 0.47.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $0.22 per share. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date was Thursday, March 13th. This represents a $0.88 annualized dividend and a yield of 3.57%. Coterra Energy’s dividend payout ratio is presently 58.28%.

Insider Buying and Selling at Coterra Energy

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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at $3,086,856.26. The trade was a 19.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

About Coterra Energy

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.