Principal Financial Group Inc. Sells 235,845 Shares of Coterra Energy Inc. (NYSE:CTRA)

Posted by Defense World Staff on Aug 19th, 2023

Principal Financial Group Inc. cut its position in Coterra Energy Inc. (NYSE:CTRA – Free Report) by 11.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,837,048 shares of the company’s stock after selling 235,845 shares during the quarter. Principal Financial Group Inc. owned about 0.24% of Coterra Energy worth $45,082,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CTRA. Grey Fox Wealth Advisors LLC bought a new position in shares of Coterra Energy in the fourth quarter valued at $25,000. ICA Group Wealth Management LLC bought a new position in shares of Coterra Energy in the fourth quarter valued at $25,000. Bogart Wealth LLC bought a new position in shares of Coterra Energy in the first quarter valued at $26,000. Stone House Investment Management LLC bought a new position in shares of Coterra Energy in the first quarter valued at $27,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Coterra Energy in the first quarter valued at $30,000. 92.59% of the stock is owned by institutional investors.

Coterra Energy Trading Down 0.5 %

Shares of Coterra Energy stock opened at $27.78 on Friday. Coterra Energy Inc. has a 52-week low of $22.25 and a 52-week high of $32.47. The firm has a 50-day moving average of $26.16 and a 200-day moving average of $25.21. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.67 and a current ratio of 1.74. The stock has a market cap of $20.98 billion, a PE ratio of 6.96, a PEG ratio of 0.22 and a beta of 0.29.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.80 annualized dividend and a yield of 2.88%. Coterra Energy’s dividend payout ratio is 20.05%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CTRA shares. JPMorgan Chase & Co. raised shares of Coterra Energy from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $33.00 to $31.00 in a research note on Tuesday, June 27th. Stephens reaffirmed an “overweight” rating and set a $32.00 price objective on shares of Coterra Energy in a research report on Tuesday, August 8th. Stifel Nicolaus lifted their price objective on shares of Coterra Energy from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday. Mizuho lifted their price objective on shares of Coterra Energy from $39.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, UBS Group lifted their price objective on shares of Coterra Energy from $25.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $31.00.

View Our Latest Stock Report on CTRA

Coterra Energy Company Profile

(Free Report)

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 primarily focuses on the Marcellus Shale with approximately 183,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.