Advisory Services Network LLC Has $248,000 Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Advisory Services Network LLC lessened its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 40.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,711 shares of the company’s stock after selling 6,639 shares during the quarter. Advisory Services Network LLC’s holdings in Coterra Energy were worth $248,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. City State Bank bought a new position in shares of Coterra Energy during the 4th quarter worth approximately $26,000. AdvisorNet Financial Inc boosted its position in Coterra Energy by 192.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after purchasing an additional 744 shares during the period. MCF Advisors LLC increased its holdings in shares of Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares during the last quarter. R Squared Ltd bought a new position in shares of Coterra Energy in the fourth quarter valued at about $32,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of Coterra Energy during the 4th quarter worth about $43,000. Institutional investors own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Williams Trading set a $37.00 price target on shares of Coterra Energy in a research note on Wednesday, March 5th. Raymond James lowered their target price on Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. The Goldman Sachs Group boosted their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Johnson Rice upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and increased their price objective for the stock from $34.00 to $37.00 in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Three research 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 company’s stock. Based on data from MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average price target of $34.05.

Coterra Energy Stock Performance

Coterra Energy stock opened at $25.84 on Friday. 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 stock has a market cap of $19.74 billion, a PE ratio of 15.57, a P/E/G ratio of 0.59 and a beta of 0.47. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The business’s 50-day moving average price is $27.14 and its two-hundred day moving average price is $26.31.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.41%. 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. Coterra Energy’s dividend payout ratio is currently 58.28%.

Insider Activity at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value 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 approximately $3,086,856.26. This trade represents a 19.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Coterra Energy 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.