Brown Brothers Harriman & Co. Sells 68,592 Shares of Coterra Energy Inc. (NYSE:CTRA)

Brown Brothers Harriman & Co. decreased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 17.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 326,990 shares of the company’s stock after selling 68,592 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Coterra Energy were worth $8,351,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTRA. Wellington Management Group LLP grew its position in Coterra Energy by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after purchasing an additional 15,736,247 shares during the last quarter. Holocene Advisors LP increased its stake in Coterra Energy by 187.2% during the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock valued at $108,572,000 after acquiring an additional 2,954,675 shares during the period. Raymond James Financial Inc. acquired a new position in Coterra Energy in the 4th quarter valued at approximately $61,461,000. Truist Financial Corp lifted its position in shares of Coterra Energy by 668.0% in the 4th quarter. Truist Financial Corp now owns 1,616,660 shares of the company’s stock worth $41,289,000 after acquiring an additional 1,406,170 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Coterra Energy by 5.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock worth $599,356,000 after purchasing an additional 1,310,965 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on CTRA shares. Mizuho raised their target price on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Piper Sandler raised their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and lifted their target price for the company from $34.00 to $37.00 in a research report on Wednesday, March 12th. Morgan Stanley cut their price target on shares of Coterra Energy from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, Raymond James lowered their price objective 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. Three 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’s stock. Based on data from MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus price target of $34.35.

Insiders Place Their Bets

In other news, SVP Kevin William Smith sold 25,733 shares of the company’s 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 sale, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at $3,086,856.26. This represents a 19.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction that occurred on 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 in the company, valued at $3,374,617.40. The trade was a 21.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Coterra Energy Trading Up 0.4 %

CTRA opened at $28.65 on Friday. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. 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 50-day moving average price of $27.91 and a two-hundred day moving average price of $26.04. The stock has a market capitalization of $21.89 billion, a PE ratio of 17.26, a PEG ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.07%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, March 13th. Coterra Energy’s payout ratio is 58.28%.

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.