Simmons Bank Decreases Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Simmons Bank cut its holdings in Coterra Energy Inc. (NYSE:CTRA) by 1.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 102,906 shares of the company’s stock after selling 1,241 shares during the quarter. Simmons Bank’s holdings in Coterra Energy were worth $2,628,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CENTRAL TRUST Co raised its stake in shares of Coterra Energy by 1.8% in the fourth quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock worth $559,000 after purchasing an additional 389 shares during the last quarter. Arkadios Wealth Advisors raised its stake in shares of Coterra Energy by 3.8% in the fourth quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock worth $288,000 after purchasing an additional 413 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Coterra Energy by 5.8% in the fourth quarter. Blue Trust Inc. now owns 7,620 shares of the company’s stock worth $182,000 after purchasing an additional 420 shares during the last quarter. Deseret Mutual Benefit Administrators raised its stake in shares of Coterra Energy by 33.2% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company’s stock worth $44,000 after purchasing an additional 429 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its stake in shares of Coterra Energy by 3.5% in the fourth quarter. V Square Quantitative Management LLC now owns 13,137 shares of the company’s stock worth $336,000 after purchasing an additional 440 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Coterra Energy

In other news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the sale, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CTRA. Citigroup raised their price objective on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Barclays raised their price objective on Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group raised their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Piper Sandler raised their target price on Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Mizuho raised 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. Three investment analysts have rated the stock with a hold rating, seventeen have assigned 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 $33.47.

Coterra Energy Stock Down 1.9 %

Shares of CTRA opened at $26.87 on Thursday. 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 Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The stock’s 50 day moving average is $27.29 and its two-hundred day moving average is $25.45. The firm has a market cap of $19.79 billion, a P/E ratio of 16.18, a PEG ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The company also recently declared 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 of this dividend is Thursday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.28%. Coterra Energy’s payout ratio is currently 50.60%.

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.