Sei Investments Co. Sells 4,677 Shares of Coterra Energy Inc. (NYSE:CTRA)

Sei Investments Co. lowered its position in Coterra Energy Inc. (NYSE:CTRA) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,548,118 shares of the company’s stock after selling 4,677 shares during the quarter. Sei Investments Co.’s holdings in Coterra Energy were worth $65,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Transactions at Coterra Energy

In other Coterra Energy news, 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 value of $941,735.74. Following the completion of the transaction, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. This represents a 21.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. This represents a 19.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Coterra Energy Stock Down 1.0 %

CTRA stock opened at $28.73 on Monday. The stock’s 50 day moving average is $27.94 and its 200-day moving average is $25.85. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The firm has a market capitalization of $21.95 billion, a PE ratio of 17.31, a P/E/G 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 Increases Dividend

The company also recently disclosed 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%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, March 13th. Coterra Energy’s payout ratio is currently 58.28%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CTRA shares. Piper Sandler upped their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Raymond James cut their price target on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 12th. Mizuho lifted their price objective on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Citigroup upped their target price on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. dropped their price target 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. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.30.

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.