Xponance Inc. Reduces Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Xponance Inc. trimmed its position in Coterra Energy Inc. (NYSE:CTRA) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 96,327 shares of the company’s stock after selling 2,250 shares during the quarter. Xponance Inc.’s holdings in Coterra Energy were worth $2,460,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. City State Bank acquired a new stake in Coterra Energy during the 4th quarter valued at approximately $26,000. AdvisorNet Financial Inc raised its holdings in shares of Coterra Energy by 192.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after purchasing an additional 744 shares during the last quarter. MCF Advisors LLC lifted its position in Coterra Energy by 230.5% during the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares during the period. R Squared Ltd purchased a new position in shares of Coterra Energy during the 4th quarter valued at about $32,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Coterra Energy in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction on Wednesday, March 19th. The stock was 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 in the company, valued at $3,086,856.26. The trade was a 19.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at $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

Several research analysts recently weighed in on CTRA shares. JPMorgan Chase & Co. reduced their price target on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Jefferies Financial Group boosted their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, February 4th. Williams Trading set a $37.00 price target on shares of Coterra Energy in a research report on Wednesday, March 5th. Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and upped their price objective for the stock from $34.00 to $37.00 in a research report on Wednesday, March 12th. Finally, Truist Financial raised their target price on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Three 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’s stock. According to MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and an average target price of $34.14.

Coterra Energy Price Performance

Coterra Energy stock opened at $28.73 on Friday. The company has a fifty day simple moving average of $27.94 and a 200-day simple moving average of $25.82. The firm has a market capitalization of $21.95 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 0.59 and a beta of 0.26. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95.

Coterra Energy Increases Dividend

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

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.