EverSource Wealth Advisors LLC Has $58,000 Position in Coterra Energy Inc. (NYSE:CTRA)

EverSource Wealth Advisors LLC lowered its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 38.7% in the fourth quarter, Holdings Channel reports. The firm owned 2,266 shares of the company’s stock after selling 1,429 shares during the period. EverSource Wealth Advisors LLC’s holdings in Coterra Energy were worth $58,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CTRA. City State Bank acquired a new position in Coterra Energy during the fourth quarter valued at approximately $26,000. AdvisorNet Financial Inc grew its holdings in Coterra Energy by 192.2% during 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 period. MCF Advisors LLC grew its holdings in Coterra Energy by 230.5% during 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 period. R Squared Ltd acquired a new position in Coterra Energy during the fourth quarter valued at approximately $32,000. Finally, Plato Investment Management Ltd acquired a new position in Coterra Energy during the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $29.23 on Thursday. The stock has a market cap of $22.33 billion, a P/E ratio of 17.61, a P/E/G ratio of 0.59 and a beta of 0.26. 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 company has a fifty day moving average price of $27.88 and a two-hundred day moving average price of $25.76. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95.

Coterra Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $0.22 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.01%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio (DPR) is currently 58.28%.

Analyst Ratings Changes

A number of research analysts recently issued reports on CTRA shares. Williams Trading set a $37.00 price objective on shares of Coterra Energy in a report on Wednesday, March 5th. Jefferies Financial Group upped their price target on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. reduced their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Mizuho upped their price target on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Finally, Barclays upped their price target on shares of Coterra Energy from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.14.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the sale, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. This trade represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.70% of the company’s stock.

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.