Wealthfront Advisers LLC Purchases 62,110 Shares of Coterra Energy Inc. (NYSE:CTRA)

Wealthfront Advisers LLC raised its position in Coterra Energy Inc. (NYSE:CTRA) by 27.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 285,674 shares of the company’s stock after buying an additional 62,110 shares during the period. Wealthfront Advisers LLC’s holdings in Coterra Energy were worth $7,296,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Coterra Energy by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after purchasing an additional 305,626 shares during the last quarter. Czech National Bank boosted its position 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 purchasing an additional 9,115 shares during the last quarter. Bourgeon Capital Management LLC boosted its position in shares of Coterra Energy by 107.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock worth $6,052,000 after purchasing an additional 122,487 shares during the last quarter. Hartford Funds Management Co LLC bought a new position in shares of Coterra Energy in the 3rd quarter worth $575,000. Finally, M.E. Allison & CO. Inc. bought a new position in shares of Coterra Energy in the 4th quarter worth $217,000. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Stock Performance

CTRA opened at $27.24 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The business’s 50-day moving average price is $27.71 and its two-hundred day moving average price is $25.63. The company has a market capitalization of $20.81 billion, a price-to-earnings ratio of 16.41, a P/E/G ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.23%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is currently 58.28%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CTRA. Williams Trading set a $37.00 price target on Coterra Energy in a research report on Wednesday, March 5th. Johnson Rice upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and lifted their target price for the stock from $34.00 to $37.00 in a report on Wednesday. UBS Group lifted their target price on Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and set a $37.00 target price on the stock in a report on Wednesday. Finally, Barclays lifted their target price on Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and a consensus price target of $34.29.

Insider Activity at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy 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 sale, the senior vice president now owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by company insiders.

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.