Corient Private Wealth LLC Reduces Stake in Coterra Energy Inc. (NYSE:CTRA)

Corient Private Wealth LLC trimmed its stake in Coterra Energy Inc. (NYSE:CTRA) by 71.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 187,892 shares of the company’s stock after selling 465,368 shares during the quarter. Corient Private Wealth LLC’s holdings in Coterra Energy were worth $4,799,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. City State Bank purchased a new position in Coterra Energy in the fourth quarter valued at about $26,000. AdvisorNet Financial Inc boosted its stake in 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 acquiring an additional 744 shares during the last quarter. MCF Advisors LLC boosted its stake in 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 acquiring an additional 869 shares during the last quarter. R Squared Ltd purchased a new position in Coterra Energy in the fourth quarter valued at about $32,000. Finally, Plato Investment Management Ltd purchased a new position in Coterra Energy in the fourth quarter valued at about $43,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

Coterra Energy stock opened at $28.73 on Friday. The firm’s fifty day moving average price is $27.94 and its 200-day moving average price is $25.82. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The stock has a market cap of $21.95 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

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 given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.06%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio (DPR) is 58.28%.

Insider Activity

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

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. UBS Group boosted their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Williams Trading set a $37.00 price target on shares of Coterra Energy in a research report on Wednesday, March 5th. Truist Financial boosted their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Piper Sandler boosted their price target on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus target price of $34.14.

Coterra Energy 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.