Independent Advisor Alliance Trims Stake in Coterra Energy Inc. (NYSE:CTRA)

Independent Advisor Alliance decreased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 4.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 48,312 shares of the company’s stock after selling 2,498 shares during the quarter. Independent Advisor Alliance’s holdings in Coterra Energy were worth $1,234,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Coterra Energy by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after acquiring an additional 305,626 shares during the last quarter. Czech National Bank boosted its stake in shares of Coterra Energy by 6.1% during the 4th quarter. Czech National Bank now owns 159,713 shares of the company’s stock worth $4,079,000 after purchasing an additional 9,115 shares during the last quarter. Bourgeon Capital Management LLC grew its holdings in shares of Coterra Energy by 107.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock worth $6,052,000 after buying an additional 122,487 shares in the last quarter. Hartford Funds Management Co LLC acquired a new position in shares of Coterra Energy in the third quarter valued at approximately $575,000. Finally, M.E. Allison & CO. Inc. acquired a new position in shares of Coterra Energy in the fourth quarter valued at approximately $217,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of NYSE:CTRA opened at $27.66 on Friday. The company has a market cap of $21.13 billion, a P/E ratio of 16.66, a PEG ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The business’s 50-day simple moving average is $27.75 and its 200 day simple moving average is $25.66. 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 company 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 dividend of $0.22 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.18%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio (DPR) is currently 58.28%.

Analysts Set New Price Targets

CTRA has been the subject of several recent analyst reports. Williams Trading set a $37.00 target price on shares of Coterra Energy in a research note on Wednesday, March 5th. Piper Sandler lifted their price objective on Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Jefferies Financial Group upped their target price on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, February 4th. Mizuho raised their price target on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Finally, Wells Fargo & Company upped their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $34.10.

Insider Buying and Selling at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the business’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 completion of the sale, the senior vice president now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by corporate insiders.

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.