Y Intercept Hong Kong Ltd Trims Stake in Coterra Energy Inc. (NYSE:CTRA)

Y Intercept Hong Kong Ltd cut its position in Coterra Energy Inc. (NYSE:CTRA) by 32.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,102 shares of the company’s stock after selling 28,308 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Coterra Energy were worth $1,509,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of CTRA. City State Bank acquired a new stake in shares of Coterra Energy in the fourth quarter valued at $26,000. AdvisorNet Financial Inc grew its stake in shares of Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after buying an additional 744 shares in the last quarter. MCF Advisors LLC grew its stake in shares of Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after buying an additional 869 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Coterra Energy in the fourth quarter valued at $32,000. Finally, Deseret Mutual Benefit Administrators grew its stake in shares of Coterra Energy by 33.2% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company’s stock valued at $44,000 after buying an additional 429 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. 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. UBS Group lifted their price objective on Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group boosted their target price on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday, February 4th. Wells Fargo & Company boosted their target price on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Mizuho boosted their target price on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.42.

Coterra Energy Stock Down 2.1 %

CTRA opened at $27.38 on Wednesday. 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 business has a 50 day moving average price of $27.29 and a two-hundred day moving average price of $25.45. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The company has a market cap of $20.17 billion, a PE ratio of 16.49, a P/E/G ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $0.22 per share. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, March 13th. This represents a $0.88 annualized dividend and a yield of 3.21%. Coterra Energy’s payout ratio is presently 50.60%.

Insiders Place Their Bets

In related news, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the sale, the senior vice president now owns 77,075 shares in the company, valued at $2,016,282. This represents a 27.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by insiders.

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.