Coterra Energy Inc. $CTRA Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 302,869 shares of the company’s stock after selling 15,336 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Coterra Energy were worth $7,971,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CTRA. Davis Selected Advisers grew its position in shares of Coterra Energy by 112.9% during the third quarter. Davis Selected Advisers now owns 19,883,481 shares of the company’s stock worth $470,244,000 after buying an additional 10,545,340 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Coterra Energy by 4.0% during the third quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after buying an additional 3,781,606 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Coterra Energy by 287.7% during the third quarter. AQR Capital Management LLC now owns 4,573,111 shares of the company’s stock worth $108,154,000 after buying an additional 3,393,697 shares in the last quarter. HITE Hedge Asset Management LLC grew its position in shares of Coterra Energy by 308.9% during the third quarter. HITE Hedge Asset Management LLC now owns 2,362,900 shares of the company’s stock worth $55,883,000 after buying an additional 1,784,967 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Coterra Energy by 17.6% during the third quarter. Invesco Ltd. now owns 11,744,004 shares of the company’s stock worth $277,746,000 after buying an additional 1,758,859 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

Shares of CTRA opened at $35.40 on Friday. The stock has a 50 day moving average price of $32.90 and a 200 day moving average price of $28.71. The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $26.88 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 0.52 and a beta of 0.33. Coterra Energy Inc. has a 52-week low of $22.33 and a 52-week high of $36.88.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, March 11th. Coterra Energy’s dividend payout ratio is 38.60%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Weiss Ratings raised Coterra Energy from a “hold (c+)” rating to a “buy (b)” rating in a research report on Monday, March 2nd. Wolfe Research boosted their price objective on Coterra Energy from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Siebert Williams Shank downgraded Coterra Energy from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. BMO Capital Markets boosted their price objective on Coterra Energy from $32.00 to $35.00 and gave the stock a “market perform” rating in a research report on Tuesday, March 3rd. Finally, Citigroup upped their price target on Coterra Energy from $32.00 to $42.00 and gave the company a “buy” rating in a report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $37.32.

Coterra Energy Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.