Pitcairn Co. Has $578,000 Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Pitcairn Co. decreased its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 23.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,642 shares of the company’s stock after selling 6,767 shares during the period. Pitcairn Co.’s holdings in Coterra Energy were worth $578,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Private Trust Co. NA lifted its holdings in shares of Coterra Energy by 20.0% during the 4th quarter. Private Trust Co. NA now owns 2,140 shares of the company’s stock valued at $55,000 after buying an additional 356 shares during the last quarter. CENTRAL TRUST Co lifted its stake in Coterra Energy by 1.8% in the fourth quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock valued at $559,000 after acquiring an additional 389 shares during the last quarter. Arkadios Wealth Advisors grew its position in Coterra Energy by 3.8% in the fourth quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock worth $288,000 after acquiring an additional 413 shares in the last quarter. Blue Trust Inc. grew its position in Coterra Energy by 5.8% in the fourth quarter. Blue Trust Inc. now owns 7,620 shares of the company’s stock worth $182,000 after acquiring an additional 420 shares in the last quarter. Finally, New York Life Investment Management LLC increased its stake in shares of Coterra Energy by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 99,584 shares of the company’s stock worth $2,543,000 after purchasing an additional 421 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Down 8.3 %

NYSE CTRA opened at $25.09 on Friday. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The stock has a market cap of $19.17 billion, a PE ratio of 15.11, a PEG ratio of 0.59 and a beta of 0.47. The firm has a 50-day simple moving average of $27.78 and a 200 day simple moving average of $26.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.51%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio (DPR) is currently 58.28%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of Coterra Energy from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. Truist Financial upped their price target on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Jefferies Financial Group raised their price objective on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, February 4th. The Goldman Sachs Group upped their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Raymond James dropped 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. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus target price of $34.35.

Insider Transactions at Coterra Energy

In other news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the sale, the senior vice president now directly owns 106,114 shares in the company, valued at approximately $3,086,856.26. The trade was a 19.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the completion of the sale, the senior vice president now directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by 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.