Janney Montgomery Scott LLC trimmed its stake in Coterra Energy Inc. (NYSE:CTRA – Get Rating) by 11.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 173,296 shares of the company’s stock after selling 22,892 shares during the period. Janney Montgomery Scott LLC’s holdings in Coterra Energy were worth $4,258,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. bought a new position in Coterra Energy in the 1st quarter valued at $2,472,575,000. BlackRock Inc. boosted its position in shares of Coterra Energy by 4.1% during the third quarter. BlackRock Inc. now owns 66,485,968 shares of the company’s stock worth $1,736,614,000 after buying an additional 2,629,712 shares during the period. State Street Corp acquired a new position in shares of Coterra Energy during the first quarter worth about $1,493,855,000. Victory Capital Management Inc. raised its holdings in Coterra Energy by 2.4% during the third quarter. Victory Capital Management Inc. now owns 12,825,447 shares of the company’s stock worth $335,001,000 after acquiring an additional 298,777 shares in the last quarter. Finally, Northern Trust Corp bought a new stake in Coterra Energy during the first quarter worth about $300,998,000. 94.72% of the stock is owned by institutional investors.
Coterra Energy Stock Down 0.4 %
Shares of NYSE CTRA opened at $25.46 on Friday. The firm’s 50-day moving average price is $24.75 and its 200-day moving average price is $25.97. The company has a current ratio of 1.85, a quick ratio of 1.80 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $19.49 billion, a price-to-earnings ratio of 4.98, a P/E/G ratio of 0.19 and a beta of 0.25. Coterra Energy Inc. has a 12-month low of $22.25 and a 12-month high of $36.55.
Coterra Energy Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 30th. Stockholders of record on Thursday, March 16th were paid a $0.57 dividend. The ex-dividend date was Wednesday, March 15th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 8.96%. Coterra Energy’s payout ratio is currently 15.66%.
Analysts Set New Price Targets
Several research firms have recently commented on CTRA. UBS Group started coverage on Coterra Energy in a research report on Wednesday. They issued a “neutral” rating and a $27.00 target price on the stock. Piper Sandler dropped their price target on Coterra Energy from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, March 7th. Mizuho lowered their target price on Coterra Energy from $40.00 to $38.00 in a research report on Friday, March 10th. Truist Financial lifted their price objective on Coterra Energy from $26.00 to $29.00 and gave the stock a “hold” rating in a research report on Tuesday, April 11th. Finally, Barclays lifted their price objective on Coterra Energy from $26.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, March 17th. Eighteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $30.18.
Insider Activity at Coterra Energy
In other news, VP Michael D. Deshazer sold 20,824 shares of Coterra Energy stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $24.10, for a total value of $501,858.40. Following the sale, the vice president now owns 77,406 shares in the company, valued at $1,865,484.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by company insiders.
Coterra Energy Company Profile
Coterra Energy Inc is a diversified energy company, which engages in the exploration, development, and production of oil and natural gas properties. Its portfolio includes projects in the Permian Basin, the Marcellus Shale, and the Anadarko Basin. The company was renamed to Coterra Energy Inc on October 1, 2021 in connection with the merger involving Cabot Oil & Gas Corp.
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