Norden Group LLC Decreases Holdings in Coterra Energy Inc. (NYSE:CTRA)

Norden Group LLC decreased its holdings in Coterra Energy Inc. (NYSE:CTRA) by 6.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,616 shares of the company’s stock after selling 594 shares during the period. Norden Group LLC’s holdings in Coterra Energy were worth $220,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CTRA. Metis Global Partners LLC grew its stake in shares of Coterra Energy by 3.6% during the fourth quarter. Metis Global Partners LLC now owns 33,219 shares of the company’s stock valued at $848,000 after buying an additional 1,145 shares during the last quarter. US Bancorp DE lifted its stake in shares of Coterra Energy by 10.0% in the 4th quarter. US Bancorp DE now owns 1,795,091 shares of the company’s stock valued at $45,847,000 after acquiring an additional 162,858 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Coterra Energy by 7.4% during the 4th quarter. Fisher Asset Management LLC now owns 13,757 shares of the company’s stock valued at $351,000 after acquiring an additional 951 shares during the period. Flputnam Investment Management Co. grew its position in Coterra Energy by 292.0% during the 4th quarter. Flputnam Investment Management Co. now owns 31,074 shares of the company’s stock worth $794,000 after acquiring an additional 23,147 shares during the last quarter. Finally, Private Trust Co. NA lifted its position in Coterra Energy by 20.0% in the fourth quarter. Private Trust Co. NA now owns 2,140 shares of the company’s stock valued at $55,000 after purchasing an additional 356 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

NYSE CTRA opened at $26.50 on Wednesday. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The firm has a market capitalization of $20.25 billion, a P/E ratio of 15.96, a PEG ratio of 0.59 and a beta of 0.26. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $27.52 and a 200-day moving average price of $25.52.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.32%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, March 13th. Coterra Energy’s dividend payout ratio is 58.28%.

Analysts Set New Price Targets

CTRA has been the topic of several analyst reports. Citigroup lifted their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Susquehanna raised their target price on shares of Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Wells Fargo & Company lifted their price target on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley upped their price objective on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Finally, Piper Sandler lifted their price objective on Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.47.

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.