Beacon Investment Advisors LLC Has $1.69 Million Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Beacon Investment Advisors LLC decreased its holdings in Coterra Energy Inc. (NYSE:CTRA) by 1.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 66,060 shares of the company’s stock after selling 1,079 shares during the period. Beacon Investment Advisors LLC’s holdings in Coterra Energy were worth $1,687,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CTRA. Wellington Management Group LLP lifted its holdings in shares of Coterra Energy by 1.9% in the fourth quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company’s stock worth $1,852,385,000 after acquiring an additional 1,318,754 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Coterra Energy by 5.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock valued at $599,356,000 after purchasing an additional 1,310,965 shares during the last quarter. Geode Capital Management LLC grew its holdings in Coterra Energy by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company’s stock worth $486,528,000 after acquiring an additional 96,059 shares during the period. Victory Capital Management Inc. grew its stake in Coterra Energy by 5.0% during the fourth quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company’s stock worth $454,834,000 after purchasing an additional 845,609 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Coterra Energy by 9.0% during the 4th quarter. Invesco Ltd. now owns 12,232,484 shares of the company’s stock valued at $312,418,000 after acquiring an additional 1,011,166 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Michael D. Deshazer sold 35,377 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the transaction, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the sale, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. This trade represents a 19.52 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Coterra Energy Price Performance

CTRA stock opened at $25.84 on Monday. The firm has a 50 day moving average of $27.14 and a 200-day moving average of $26.34. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $19.74 billion, a P/E ratio of 15.57, a price-to-earnings-growth 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.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $0.22 dividend. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Thursday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is currently 58.28%.

Wall Street Analyst Weigh In

CTRA has been the subject of several research analyst reports. UBS Group decreased their price target on shares of Coterra Energy from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday. Barclays raised their price objective on Coterra Energy from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Morgan Stanley set a $28.00 target price on Coterra Energy in a report on Tuesday, April 15th. Truist Financial raised their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Piper Sandler raised their price objective on Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $34.05.

About Coterra Energy

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.