Bank of New York Mellon Corp Grows Holdings in Coterra Energy Inc. (NYSE:CTRA)

Bank of New York Mellon Corp raised its holdings in Coterra Energy Inc. (NYSE:CTRA) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,943,266 shares of the company’s stock after purchasing an additional 259,858 shares during the quarter. Bank of New York Mellon Corp’s holdings in Coterra Energy were worth $126,251,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CTRA. City State Bank purchased a new stake in Coterra Energy during the 4th quarter valued at approximately $26,000. AdvisorNet Financial Inc raised its stake 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 holdings in shares of Coterra Energy by 230.5% during the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after purchasing an additional 869 shares during the period. R Squared Ltd purchased a new position in Coterra Energy in the 4th quarter valued at $32,000. Finally, Deseret Mutual Benefit Administrators raised its position in Coterra Energy by 33.2% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company’s stock worth $44,000 after buying an additional 429 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTRA has been the subject of several recent analyst reports. Jefferies Financial Group raised their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday, February 4th. Barclays boosted their target price on Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday. The Goldman Sachs Group raised their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Susquehanna lifted their price target on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Finally, Piper Sandler raised their target price on Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Three research 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.com, Coterra Energy has a consensus rating of “Moderate Buy” and an average price target of $33.47.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the transaction, the senior vice president now directly owns 77,075 shares in the company, valued at approximately $2,016,282. This represents a 27.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is owned by insiders.

Coterra Energy Stock Up 2.3 %

Shares of NYSE CTRA opened at $27.01 on Friday. The firm’s 50-day moving average is $27.47 and its two-hundred day moving average is $25.49. The company has a market capitalization of $20.64 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.26%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio is presently 58.28%.

Coterra Energy Company 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.