Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Addison Capital Co

Addison Capital Co trimmed its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,044 shares of the company’s stock after selling 2,731 shares during the period. Addison Capital Co’s holdings in Coterra Energy were worth $2,095,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP increased its stake 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Coterra Energy by 5.9% in 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 increased its position in shares of Coterra Energy by 0.7% during the third quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock worth $453,628,000 after purchasing an additional 128,397 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Coterra Energy by 5.0% in the 4th quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company’s stock valued at $454,834,000 after purchasing an additional 845,609 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its holdings in 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 valued at $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.

Coterra Energy Price Performance

CTRA opened at $27.66 on Monday. The firm has a market cap of $21.13 billion, a price-to-earnings ratio of 16.66, a PEG 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’s 50-day moving average price is $27.75 and its 200 day moving average price is $25.68. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.22 dividend. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.18%. Coterra Energy’s dividend payout ratio (DPR) is presently 58.28%.

Wall Street Analysts Forecast Growth

CTRA has been the topic of several research reports. Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and raised their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. Barclays boosted their target price on Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Williams Trading set a $37.00 price target on Coterra Energy in a report on Wednesday, March 5th. Citigroup boosted their price objective on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. cut their target price on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.10.

Insider Activity at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy 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 directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

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.