Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Zuckerman Investment Group LLC

Zuckerman Investment Group LLC lessened its stake in Coterra Energy Inc. (NYSE:CTRA) by 30.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,370 shares of the company’s stock after selling 3,158 shares during the period. Zuckerman Investment Group LLC’s holdings in Coterra Energy were worth $207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. City State Bank purchased a new position in shares of Coterra Energy during the 4th quarter worth approximately $26,000. AdvisorNet Financial Inc lifted its holdings in Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after purchasing an additional 744 shares in the last quarter. MCF Advisors LLC grew its stake in Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after acquiring an additional 869 shares during the period. R Squared Ltd purchased a new position in Coterra Energy during the fourth quarter worth about $32,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of Coterra Energy during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

NYSE:CTRA opened at $25.89 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company has a fifty day moving average price of $27.50 and a 200 day moving average price of $26.25. The stock has a market cap of $19.78 billion, a P/E ratio of 15.60, a PEG ratio of 0.59 and a beta of 0.47.

Coterra Energy Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Thursday, March 13th. 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 3.40%. Coterra Energy’s dividend payout ratio (DPR) is 58.28%.

Insider Activity at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction that occurred on 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 directly owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. The trade was 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 stock in a transaction that occurred on 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 approximately $3,374,617.40. The trade was a 21.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Williams Trading set a $37.00 price objective on Coterra Energy in a research note on Wednesday, March 5th. Jefferies Financial Group raised their price target on shares of Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a report on Tuesday, February 4th. Mizuho lifted their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. cut their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.15.

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.