Vanguard Group Inc. Sells 381,076 Shares of Coterra Energy Inc. (NYSE:CTRA)

Vanguard Group Inc. trimmed its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 0.4% during the 4th quarter, Holdings Channel reports. The firm owned 88,518,973 shares of the company’s stock after selling 381,076 shares during the period. Vanguard Group Inc. owned about 0.12% of Coterra Energy worth $2,260,775,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Private Trust Co. NA raised its holdings in Coterra Energy by 20.0% during the fourth quarter. Private Trust Co. NA now owns 2,140 shares of the company’s stock valued at $55,000 after acquiring an additional 356 shares during the period. CENTRAL TRUST Co grew its position in shares of Coterra Energy by 1.8% during the fourth quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock worth $559,000 after purchasing an additional 389 shares in the last quarter. Arkadios Wealth Advisors raised its stake in Coterra Energy by 3.8% during the 4th quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock valued at $288,000 after purchasing an additional 413 shares during the period. Blue Trust Inc. lifted its holdings in Coterra Energy by 5.8% in the 4th quarter. Blue Trust Inc. now owns 7,620 shares of the company’s stock worth $182,000 after purchasing an additional 420 shares in the last quarter. Finally, New York Life Investment Management LLC boosted its stake in Coterra Energy by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 99,584 shares of the company’s stock worth $2,543,000 after purchasing an additional 421 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Coterra Energy stock opened at $28.89 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 firm has a market capitalization of $22.08 billion, a P/E ratio of 17.40, a price-to-earnings-growth 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. The company’s 50-day moving average is $27.96 and its 200 day moving average is $25.95.

Coterra Energy Increases Dividend

The firm also recently declared 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 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 dividend yield of 3.05%. The ex-dividend date is Thursday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is currently 58.28%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CTRA. Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and boosted their target price for the stock from $34.00 to $37.00 in a report on Wednesday, March 12th. JPMorgan Chase & Co. decreased their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. 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. Piper Sandler increased their price target on Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group lifted their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.30.

Insider Buying and Selling at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy 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 transaction, the senior vice president now owns 126,770 shares of the company’s stock, valued at $3,374,617.40. The trade was a 21.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the transaction, the senior vice president now directly owns 106,114 shares in the company, valued at $3,086,856.26. This represents a 19.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

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.