Coterra Energy Inc. (NYSE:CTRA) Shares Acquired by Weik Capital Management

Weik Capital Management lifted its stake in Coterra Energy Inc. (NYSE:CTRA) by 6.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,960 shares of the company’s stock after purchasing an additional 2,000 shares during the quarter. Weik Capital Management’s holdings in Coterra Energy were worth $842,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in shares of 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 acquiring an additional 15,736,247 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Coterra Energy by 5.9% during the fourth 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 during the last quarter. Geode Capital Management LLC raised its stake in Coterra Energy by 0.7% during the third quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock worth $453,628,000 after purchasing an additional 128,397 shares during the period. Victory Capital Management Inc. grew its stake in shares of Coterra Energy by 5.0% in the 4th quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company’s stock valued at $454,834,000 after buying an additional 845,609 shares during the period. Finally, Disciplined Growth Investors Inc. MN raised its position in shares of Coterra Energy by 5.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock valued at $128,085,000 after buying an additional 284,106 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Down 1.2 %

Coterra Energy stock opened at $28.51 on Friday. The stock has a market cap of $21.79 billion, a PE ratio of 17.18, a P/E/G ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The stock’s fifty day moving average is $27.93 and its two-hundred day moving average is $25.97. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95.

Coterra Energy Increases Dividend

The firm also recently announced 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 is a boost from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.88 annualized dividend and a yield of 3.09%. Coterra Energy’s payout ratio is presently 58.28%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CTRA. Piper Sandler upped their target price on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research 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 report on Wednesday, March 12th. Truist Financial upped their price target on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Williams Trading set a $37.00 price objective on Coterra Energy in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group increased their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Three investment 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.35.

Insider Activity at Coterra Energy

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the transaction, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of Coterra Energy 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 sale, the senior vice president now owns 106,114 shares in the company, valued at $3,086,856.26. This trade represents a 19.52 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

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.