Cibc World Markets Corp Has $2.97 Million Stake in Coterra Energy Inc. (NYSE:CTRA)

Cibc World Markets Corp lifted its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 15.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,338 shares of the company’s stock after acquiring an additional 15,681 shares during the quarter. Cibc World Markets Corp’s holdings in Coterra Energy were worth $2,971,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Coterra Energy by 39.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 148,867 shares of the company’s stock valued at $3,802,000 after acquiring an additional 42,236 shares in the last quarter. Natixis Advisors LLC boosted its holdings in shares of Coterra Energy by 11.6% during the 4th quarter. Natixis Advisors LLC now owns 398,833 shares of the company’s stock valued at $10,186,000 after acquiring an additional 41,383 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of Coterra Energy during the 4th quarter valued at $236,000. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Coterra Energy during the 4th quarter valued at $204,000. Finally, Hilton Capital Management LLC raised its position in Coterra Energy by 4.9% during the 4th quarter. Hilton Capital Management LLC now owns 53,965 shares of the company’s stock worth $1,378,000 after purchasing an additional 2,540 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Down 0.7 %

CTRA stock opened at $29.03 on Friday. The stock’s 50 day simple moving average is $27.92 and its 200 day simple moving average is $25.79. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company has a market cap of $22.18 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The business also recently disclosed 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 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 yield of 3.03%. The ex-dividend date of this dividend is Thursday, March 13th. Coterra Energy’s payout ratio is currently 58.28%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. 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 research report on Wednesday, February 12th. Johnson Rice raised Coterra Energy from a “hold” rating to an “accumulate” rating and raised their target price for the stock from $34.00 to $37.00 in a research report on Wednesday, March 12th. Citigroup raised their target price on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Jefferies Financial Group raised their target price on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research report on Tuesday, February 4th. Finally, Williams Trading set a $37.00 target price on Coterra Energy in a research report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and an average target price of $34.14.

Insiders Place Their Bets

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the completion of the sale, the senior vice president now directly 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.