Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Sound Shore Management Inc. CT

Sound Shore Management Inc. CT lessened its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,941,842 shares of the company’s stock after selling 74,554 shares during the quarter. Coterra Energy accounts for approximately 3.3% of Sound Shore Management Inc. CT’s portfolio, making the stock its 4th biggest holding. Sound Shore Management Inc. CT’s holdings in Coterra Energy were worth $100,675,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in Coterra Energy by 28.4% during the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after purchasing an additional 15,736,247 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Coterra Energy by 5.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock worth $599,356,000 after buying an additional 1,310,965 shares during the period. Geode Capital Management LLC grew its position in shares of Coterra Energy by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock worth $453,628,000 after buying an additional 128,397 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Coterra Energy by 5.0% in the 4th quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company’s stock worth $454,834,000 after purchasing an additional 845,609 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its holdings in shares of Coterra Energy by 5.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock worth $128,085,000 after purchasing an additional 284,106 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CTRA shares. Johnson Rice upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and increased their target price for the stock from $34.00 to $37.00 in a report on Wednesday, March 12th. Piper Sandler raised their price objective on Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Truist Financial raised their price objective on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, January 13th. UBS Group raised 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. Finally, Barclays raised their price objective on Coterra Energy from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.30.

Coterra Energy Trading Down 1.0 %

Shares of CTRA opened at $28.73 on Monday. The business has a 50-day moving average of $27.94 and a 200 day moving average of $25.85. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The firm 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. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Thursday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is presently 58.28%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy 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 transaction, the senior vice president now owns 126,770 shares of the company’s stock, valued at $3,374,617.40. The trade was a 21.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the sale, 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 disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

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.