Coterra Energy Inc. (NYSE:CTRA) Holdings Cut by Swiss National Bank

Swiss National Bank cut its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.5% in the 4th quarter, Holdings Channel reports. The firm owned 2,088,420 shares of the company’s stock after selling 120,600 shares during the quarter. Swiss National Bank’s holdings in Coterra Energy were worth $53,338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Private Trust Co. NA grew its stake in Coterra Energy by 20.0% during the 4th quarter. Private Trust Co. NA now owns 2,140 shares of the company’s stock worth $55,000 after buying an additional 356 shares during the last quarter. CENTRAL TRUST Co boosted its holdings in shares of Coterra Energy by 1.8% during the fourth quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock valued at $559,000 after acquiring an additional 389 shares during the period. Arkadios Wealth Advisors grew its position in shares of Coterra Energy by 3.8% during the fourth quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock worth $288,000 after acquiring an additional 413 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Coterra Energy by 5.8% in the 4th quarter. Blue Trust Inc. now owns 7,620 shares of the company’s stock worth $182,000 after acquiring an additional 420 shares during the period. Finally, New York Life Investment Management LLC lifted its position in Coterra Energy by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 99,584 shares of the company’s stock valued at $2,543,000 after purchasing an additional 421 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Price Performance

CTRA stock opened at $27.66 on Friday. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The firm has a 50-day moving average of $27.75 and a two-hundred day moving average of $25.67. The firm has a market capitalization of $21.13 billion, a PE ratio of 16.66, a P/E/G ratio of 0.59 and a beta of 0.26. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

Coterra Energy Increases Dividend

The company also recently disclosed 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. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.18%. Coterra Energy’s dividend payout ratio (DPR) is currently 58.28%.

Analyst Upgrades and Downgrades

CTRA has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday. Truist Financial increased their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Jefferies Financial Group lifted 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. Citigroup increased their price target on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and lifted their price objective for the company from $34.00 to $37.00 in a research note on Wednesday. Three investment 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 company. According to data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.10.

Insiders Place Their Bets

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the completion of the sale, the senior vice president now directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

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.