Wakefield Asset Management LLLP Buys New Position in Coterra Energy Inc. (NYSE:CTRA)

Wakefield Asset Management LLLP acquired a new position in Coterra Energy Inc. (NYSE:CTRA) during the fourth quarter, Holdings Channel reports. The firm acquired 163,537 shares of the company’s stock, valued at approximately $4,177,000. Coterra Energy makes up approximately 1.4% of Wakefield Asset Management LLLP’s holdings, making the stock its 9th biggest holding.

Several other institutional investors have also modified their holdings of the company. City State Bank bought a new position in shares of Coterra Energy in the fourth quarter valued at $26,000. AdvisorNet Financial Inc raised its position 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 period. 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 valued at $32,000 after purchasing an additional 869 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Coterra Energy during the fourth quarter valued at $32,000. Finally, Deseret Mutual Benefit Administrators boosted its position in shares of Coterra Energy by 33.2% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company’s stock valued at $44,000 after purchasing an additional 429 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Stephens boosted their price objective on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Susquehanna boosted their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Jefferies Financial Group raised their price objective 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. UBS Group boosted their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Raymond James raised their target price on Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and a consensus target price of $33.47.

Coterra Energy Trading Down 1.8 %

Shares of NYSE:CTRA opened at $26.40 on Friday. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The firm has a fifty day moving average price of $27.35 and a 200 day moving average price of $25.46. 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 market capitalization of $19.44 billion, a PE ratio of 15.90, a P/E/G ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The business also recently disclosed 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.33%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Insider Buying and Selling

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 transaction of $775,460.88. Following the completion of the sale, the senior vice president now directly owns 77,075 shares in the company, valued at $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.