Channing Capital Management LLC Cuts Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Channing Capital Management LLC decreased its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 39.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,622 shares of the company’s stock after selling 53,224 shares during the period. Channing Capital Management LLC’s holdings in Coterra Energy were worth $2,110,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. boosted its position 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 purchasing an additional 35,259 shares in the last quarter. Isthmus Partners LLC grew its stake in shares of Coterra Energy by 0.6% during the fourth quarter. Isthmus Partners LLC now owns 401,147 shares of the company’s stock worth $10,245,000 after acquiring an additional 2,243 shares during the last quarter. Simplicity Wealth LLC acquired a new position in shares of Coterra Energy during the fourth quarter valued at about $216,000. AlphaQuest LLC boosted its stake in Coterra Energy by 116,018.2% in the 4th quarter. AlphaQuest LLC now owns 25,546 shares of the company’s stock worth $652,000 after purchasing an additional 25,524 shares in the last quarter. Finally, Argentarii LLC purchased a new stake in Coterra Energy during the 4th quarter worth approximately $219,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

NYSE:CTRA opened at $26.87 on Wednesday. The company has a fifty day moving average of $27.68 and a two-hundred day moving average of $25.62. 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 $20.53 billion, a PE ratio of 16.18, 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 quick ratio of 1.56 and a current ratio of 1.61.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 3.28%. Coterra Energy’s dividend payout ratio (DPR) is currently 58.28%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CTRA shares. Citigroup raised their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Barclays raised their target price on Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Truist Financial boosted their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Jefferies Financial Group increased their price target on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company boosted their price objective on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Three research 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. Based on data from MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $33.80.

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.