Thrivent Financial for Lutherans Sells 61,164 Shares of Coterra Energy Inc. (NYSE:CTRA)

Thrivent Financial for Lutherans reduced its stake in Coterra Energy Inc. (NYSE:CTRA) by 13.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 410,092 shares of the company’s stock after selling 61,164 shares during the period. Thrivent Financial for Lutherans’ holdings in Coterra Energy were worth $10,474,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CTRA. Wellington Management Group LLP raised its stake in Coterra Energy by 28.4% in the third 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. Holocene Advisors LP raised its stake in Coterra Energy by 187.2% in the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock worth $108,572,000 after buying an additional 2,954,675 shares in the last quarter. Raymond James Financial Inc. bought a new position in Coterra Energy in the fourth quarter worth about $61,461,000. Truist Financial Corp raised its stake in Coterra Energy by 668.0% in the fourth quarter. Truist Financial Corp now owns 1,616,660 shares of the company’s stock worth $41,289,000 after buying an additional 1,406,170 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in 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 buying an additional 1,310,965 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

Coterra Energy Price Performance

Shares of CTRA opened at $28.73 on Friday. The firm has a market cap 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 current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $27.94 and a two-hundred day simple moving average of $25.83. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95.

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 paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 3.06%. Coterra Energy’s payout ratio is currently 58.28%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Truist Financial raised their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Citigroup raised their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Jefferies Financial Group raised their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, February 4th. Finally, Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and raised their target price for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.30.

Insider Buying and Selling at Coterra Energy

In other news, SVP Kevin William Smith sold 25,733 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the sale, the senior vice president now directly owns 106,114 shares in the company, valued at $3,086,856.26. This represents a 19.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 sale, the senior vice president now owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This trade represents a 21.82 % 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 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.