Cerity Partners LLC Increases Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Cerity Partners LLC lifted its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 4.6% in the fourth quarter, Holdings Channel reports. The firm owned 357,468 shares of the company’s stock after purchasing an additional 15,834 shares during the period. Cerity Partners LLC’s holdings in Coterra Energy were worth $8,716,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Private Trust Co. NA raised its stake in shares of 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 purchasing an additional 356 shares during the period. CENTRAL TRUST Co raised its stake in 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 acquiring an additional 389 shares during the period. Arkadios Wealth Advisors lifted its holdings in shares of Coterra Energy by 3.8% in the 4th quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock worth $288,000 after purchasing an additional 413 shares during the last quarter. Blue Trust Inc. lifted its stake in Coterra Energy by 5.8% in the fourth quarter. Blue Trust Inc. now owns 7,620 shares of the company’s stock valued at $182,000 after buying an additional 420 shares during the last quarter. Finally, New York Life Investment Management LLC grew its position 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 last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Ratings Changes

CTRA has been the subject of a number of recent analyst reports. Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and increased their target price for the company from $34.00 to $37.00 in a research report on Wednesday, March 12th. The Goldman Sachs Group boosted their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Williams Trading set a $37.00 price target on shares of Coterra Energy in a research report on Wednesday, March 5th. Morgan Stanley decreased their price objective on Coterra Energy from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. Finally, Raymond James lowered their price target on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.15.

Coterra Energy Trading Down 4.5 %

Shares of CTRA opened at $24.71 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The firm has a market cap of $18.89 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 0.59 and a beta of 0.47. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The business’s fifty day moving average is $27.44 and its 200-day moving average is $26.25.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio (DPR) is 58.28%.

Insider Activity

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was 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 in the company, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the firm’s stock in a transaction on 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 in the company, valued at $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. Insiders own 1.50% of the company’s stock.

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.