Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Summit Global Investments

Summit Global Investments decreased its holdings in Coterra Energy Inc. (NYSE:CTRA) by 1.9% in the fourth quarter, Holdings Channel reports. The firm owned 25,443 shares of the company’s stock after selling 482 shares during the period. Summit Global Investments’ holdings in Coterra Energy were worth $650,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Coterra Energy during the third quarter worth about $360,000. Advisors Asset Management Inc. raised its stake in Coterra Energy by 2.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 65,668 shares of the company’s stock worth $1,573,000 after acquiring an additional 1,333 shares during the last quarter. Eagle Asset Management Inc. lifted its position in Coterra Energy by 101.2% during the 3rd quarter. Eagle Asset Management Inc. now owns 387,665 shares of the company’s stock worth $9,529,000 after acquiring an additional 194,986 shares during the period. Raymond James Trust N.A. grew its stake in Coterra Energy by 30.7% during the 3rd quarter. Raymond James Trust N.A. now owns 12,296 shares of the company’s stock valued at $294,000 after purchasing an additional 2,890 shares during the last quarter. Finally, Meridian Wealth Management LLC purchased a new position in shares of Coterra Energy in the third quarter worth about $445,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy 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 completion of the transaction, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at $3,374,617.40. The trade was a 21.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kevin William Smith sold 25,733 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CTRA. Piper Sandler increased their price target 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. Mizuho raised their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. UBS Group upped their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 13th. The Goldman Sachs Group lifted their price objective on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. dropped their target price on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a 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. According to MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average price target of $34.30.

Coterra Energy Trading Down 1.0 %

Shares of Coterra Energy stock opened at $28.73 on Monday. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The firm has a market capitalization of $21.95 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 0.59 and a beta of 0.26. The stock has a 50 day moving average of $27.94 and a 200 day moving average of $25.85.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.06%. The ex-dividend date is Thursday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio (DPR) 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.