Vestcor Inc Acquires 4,533 Shares of Coterra Energy Inc. (NYSE:CTRA)

Vestcor Inc raised its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 29.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 19,875 shares of the company’s stock after buying an additional 4,533 shares during the quarter. Vestcor Inc’s holdings in Coterra Energy were worth $508,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Avantax Advisory Services Inc. lifted its holdings in shares of Coterra Energy by 7.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 95,225 shares of the company’s stock worth $2,432,000 after acquiring an additional 6,666 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Coterra Energy by 12.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 32,513 shares of the company’s stock worth $830,000 after acquiring an additional 3,599 shares during the last quarter. Moors & Cabot Inc. lifted its holdings in shares of Coterra Energy by 14.9% in the 4th quarter. Moors & Cabot Inc. now owns 139,037 shares of the company’s stock worth $3,551,000 after acquiring an additional 17,978 shares during the last quarter. Wealthfront Advisers LLC lifted its holdings in shares of Coterra Energy by 27.8% in the 4th quarter. Wealthfront Advisers LLC now owns 285,674 shares of the company’s stock worth $7,296,000 after acquiring an additional 62,110 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Coterra Energy by 39.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 125,636 shares of the company’s stock worth $3,209,000 after acquiring an additional 35,259 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday. Truist Financial raised their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Raymond James reduced their price target on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. Williams Trading set a $37.00 price target on shares of Coterra Energy in a research note on Wednesday, March 5th. Finally, UBS Group raised their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.10.

Coterra Energy Stock Up 3.5 %

NYSE:CTRA opened at $27.66 on Monday. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The stock has a market capitalization of $21.13 billion, a P/E ratio of 16.66, 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 quick ratio of 1.56 and a current ratio of 1.61. The company’s 50-day simple moving average is $27.75 and its 200-day simple moving average is $25.68.

Coterra Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $0.22 dividend. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Thursday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is currently 58.28%.

Insider Activity

In other news, SVP Michael D. Deshazer sold 35,377 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

Coterra Energy 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.