Farther Finance Advisors LLC Has $193,000 Stake in Coterra Energy Inc. (NYSE:CTRA)

Farther Finance Advisors LLC reduced its holdings in Coterra Energy Inc. (NYSE:CTRA) by 7.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,552 shares of the company’s stock after selling 603 shares during the period. Farther Finance Advisors LLC’s holdings in Coterra Energy were worth $193,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CTRA. Mizuho boosted their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Williams Trading set a $37.00 price target on shares of Coterra Energy in a research note on Wednesday, March 5th. The Goldman Sachs Group upped their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. UBS Group upped their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Piper Sandler increased their target price on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.14.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $29.23 on Thursday. The company has a market cap of $22.33 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average of $27.88 and a 200-day moving average of $25.76. 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 disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $0.22 dividend. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.88 annualized dividend and a yield of 3.01%. Coterra Energy’s dividend payout ratio is presently 58.28%.

Insider Activity at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This represents a 21.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by 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.