Congress Wealth Management LLC DE Increases Position in Coterra Energy Inc. (NYSE:CTRA)

Congress Wealth Management LLC DE raised its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 15.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,076 shares of the company’s stock after buying an additional 5,649 shares during the period. Congress Wealth Management LLC DE’s holdings in Coterra Energy were worth $1,075,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of CTRA. City State Bank acquired a new stake in shares of Coterra Energy during the fourth quarter worth about $26,000. AdvisorNet Financial Inc increased its stake in 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 buying an additional 744 shares during the period. MCF Advisors LLC lifted its holdings in 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 buying an additional 869 shares in the last quarter. R Squared Ltd purchased a new position in Coterra Energy in the 4th quarter valued at approximately $32,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Coterra Energy in the fourth quarter worth $43,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTRA has been the topic of a number of analyst reports. 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 report on Thursday, March 6th. Truist Financial raised their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Monday, January 13th. JPMorgan Chase & Co. lowered 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. The Goldman Sachs Group raised their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Mizuho increased their target price on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.35.

Coterra Energy Stock Down 1.2 %

Shares of NYSE:CTRA opened at $28.51 on Friday. 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 quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm’s 50-day simple moving average is $27.93 and its 200-day simple moving average is $25.97. The company has a market cap of $21.79 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $0.22 per share. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.88 annualized dividend and a yield of 3.09%. Coterra Energy’s payout ratio is presently 58.28%.

Insiders Place Their Bets

In related news, SVP Michael D. Deshazer sold 35,377 shares of the business’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 sale, the senior vice president now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin William Smith sold 25,733 shares of the 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 completion of the transaction, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. This trade 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 insiders.

Coterra Energy Company 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.