Securian Asset Management Inc. Sells 1,298 Shares of Coterra Energy Inc. (NYSE:CTRA)

Securian Asset Management Inc. lessened its position in Coterra Energy Inc. (NYSE:CTRA) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,589 shares of the company’s stock after selling 1,298 shares during the period. Securian Asset Management Inc.’s holdings in Coterra Energy were worth $1,011,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CTRA. Charles Schwab Investment Management Inc. boosted its stake in shares of Coterra Energy by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after purchasing an additional 305,626 shares in 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 valued at $4,079,000 after purchasing an additional 9,115 shares in the last quarter. Bourgeon Capital Management LLC boosted its stake in shares of Coterra Energy by 107.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock valued at $6,052,000 after purchasing an additional 122,487 shares in the last quarter. Hartford Funds Management Co LLC bought a new stake in shares of Coterra Energy during the 3rd quarter valued at about $575,000. Finally, M.E. Allison & CO. Inc. bought a new stake in shares of Coterra Energy during the 4th quarter valued at about $217,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Up 3.5 %

CTRA opened at $27.66 on Friday. 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 firm has a 50 day moving average price of $27.75 and a 200-day moving average price of $25.66. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The stock has a market capitalization of $21.13 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 0.59 and a beta of 0.26.

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 issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.18%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, March 13th. Coterra Energy’s payout ratio is presently 58.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CTRA shares. 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. Piper Sandler boosted their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Citigroup boosted their price objective 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. Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and boosted their price objective for the stock from $34.00 to $37.00 in a research note on Wednesday. Finally, Truist Financial boosted their price objective 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. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $34.10.

Insider Activity

In other news, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction 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 $3,374,617.40. The trade was a 21.82 % decrease in their ownership of the stock. 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 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.