Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Heartland Advisors Inc.

Heartland Advisors Inc. lowered its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 13.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 547,027 shares of the company’s stock after selling 88,281 shares during the quarter. Heartland Advisors Inc.’s holdings in Coterra Energy were worth $13,971,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. City State Bank purchased a new position in Coterra Energy in the 4th quarter valued at $26,000. AdvisorNet Financial Inc raised its position in shares of 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 buying an additional 744 shares during the last quarter. MCF Advisors LLC lifted its stake in shares of Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after buying an additional 869 shares in the last quarter. R Squared Ltd acquired a new position in Coterra Energy during the fourth quarter worth about $32,000. Finally, Plato Investment Management Ltd acquired a new stake in Coterra Energy in the 4th quarter valued at about $43,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group upped their price target on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research report on Tuesday, February 4th. Mizuho raised their target price on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and upped their price objective for the company from $34.00 to $37.00 in a report on Wednesday, March 12th. Williams Trading set a $37.00 target price on shares of Coterra Energy in a research note on Wednesday, March 5th. Finally, Piper Sandler increased their price target 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. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.35.

Coterra Energy Trading Down 1.2 %

NYSE:CTRA opened at $28.51 on Friday. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The firm has a market cap of $21.79 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average price of $27.93 and a 200 day moving average price of $25.97.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase 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 3.09%. Coterra Energy’s payout ratio is currently 58.28%.

Insider Activity at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of the 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 transaction, the senior vice president now owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the transaction, 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. 1.70% of the stock is owned by corporate insiders.

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.