Amalgamated Bank Sells 4,474 Shares of Coterra Energy Inc. (NYSE:CTRA)

Amalgamated Bank reduced its position in Coterra Energy Inc. (NYSE:CTRA) by 3.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 141,098 shares of the company’s stock after selling 4,474 shares during the quarter. Amalgamated Bank’s holdings in Coterra Energy were worth $3,604,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTRA. City State Bank bought a new position in Coterra Energy in the fourth quarter valued at approximately $26,000. AdvisorNet Financial Inc boosted its holdings in shares of Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after purchasing an additional 744 shares in the last quarter. MCF Advisors LLC increased its stake in shares of Coterra Energy by 230.5% in the 4th 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 position in shares of Coterra Energy during the 4th quarter worth $32,000. Finally, Deseret Mutual Benefit Administrators lifted its position in shares of Coterra Energy by 33.2% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company’s stock worth $44,000 after buying an additional 429 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wells Fargo & Company boosted their target price on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Truist Financial lifted their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Monday, January 13th. Mizuho increased their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Piper Sandler boosted their target price on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Raymond James upped their price target on shares of Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Three research 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.47.

Insider Transactions at Coterra Energy

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

Coterra Energy Trading Up 2.3 %

CTRA opened at $27.01 on Friday. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The company has a fifty day moving average of $27.41 and a 200-day moving average of $25.47. The stock has a market cap of $20.64 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.22 per share. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Thursday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is presently 58.28%.

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.