Prudential Financial Inc. Buys 281,817 Shares of Coterra Energy Inc. (NYSE:CTRA)

Prudential Financial Inc. lifted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 53.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 806,426 shares of the company’s stock after buying an additional 281,817 shares during the period. Prudential Financial Inc.’s holdings in Coterra Energy were worth $20,596,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of CTRA. Congress Wealth Management LLC DE lifted its stake in Coterra Energy by 15.5% during the 4th quarter. Congress Wealth Management LLC DE now owns 42,076 shares of the company’s stock valued at $1,075,000 after acquiring an additional 5,649 shares in the last quarter. LPL Financial LLC lifted its position in shares of Coterra Energy by 63.5% during the fourth quarter. LPL Financial LLC now owns 664,401 shares of the company’s stock valued at $16,969,000 after purchasing an additional 258,114 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Coterra Energy during the fourth quarter valued at about $18,841,000. Mizuho Securities USA LLC grew its position in Coterra Energy by 45.6% in the 4th quarter. Mizuho Securities USA LLC now owns 69,814 shares of the company’s stock worth $1,783,000 after purchasing an additional 21,876 shares in the last quarter. Finally, Beddow Capital Management Inc. increased its stake in Coterra Energy by 2.0% in the 4th quarter. Beddow Capital Management Inc. now owns 253,239 shares of the company’s stock valued at $6,468,000 after buying an additional 5,073 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

CTRA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Williams Trading set a $37.00 price objective on Coterra Energy in a research note on Wednesday, March 5th. Piper Sandler lifted their target price on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. The Goldman Sachs Group boosted their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and lifted their price objective for the stock from $34.00 to $37.00 in a research report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.30.

Coterra Energy Stock Down 1.4 %

Shares of NYSE CTRA opened at $28.89 on Thursday. 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 company has a market cap of $22.08 billion, a P/E ratio of 17.40, a P/E/G ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The business has a 50-day simple moving average of $27.96 and a two-hundred day simple moving average of $25.95.

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 given a $0.22 dividend. 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 dividend yield of 3.05%. The ex-dividend date of this dividend is Thursday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is 58.28%.

Insider Activity at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the transaction, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at $3,086,856.26. This trade represents a 19.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction on 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 transaction, the senior vice president now directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate 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.