McCollum Christoferson Group LLC Decreases Stake in Coterra Energy Inc. (NYSE:CTRA)

McCollum Christoferson Group LLC decreased its position in Coterra Energy Inc. (NYSE:CTRA) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 280,185 shares of the company’s stock after selling 5,515 shares during the period. Coterra Energy makes up about 2.1% of McCollum Christoferson Group LLC’s portfolio, making the stock its 23rd biggest holding. McCollum Christoferson Group LLC’s holdings in Coterra Energy were worth $7,156,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CTRA. Wellington Management Group LLP raised its holdings in shares of Coterra Energy by 28.4% during the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after purchasing an additional 15,736,247 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Coterra Energy by 5.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock valued at $599,356,000 after buying an additional 1,310,965 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Coterra Energy by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock valued at $453,628,000 after buying an additional 128,397 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Coterra Energy by 5.0% in the fourth quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company’s stock worth $454,834,000 after buying an additional 845,609 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its holdings in Coterra Energy by 5.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock worth $128,085,000 after acquiring an additional 284,106 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Down 1.0 %

Shares of CTRA opened at $28.73 on Monday. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The stock has a market cap of $21.95 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The firm’s fifty day moving average is $27.94 and its two-hundred day moving average is $25.85. 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 disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio is currently 58.28%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CTRA. Mizuho boosted their price target on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 16th. UBS Group increased their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group lifted their price objective 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. Citigroup increased their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Barclays lifted their price target on Coterra Energy from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.30.

Insider Buying and Selling at Coterra Energy

In other news, SVP Kevin William Smith sold 25,733 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the transaction, the senior vice president now owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. The trade was a 19.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were 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 $3,374,617.40. This represents a 21.82 % decrease in their position. The disclosure for this sale can be found here. 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.