DAVENPORT & Co LLC Sells 56,390 Shares of Coterra Energy Inc. (NYSE:CTRA)

DAVENPORT & Co LLC trimmed its position in Coterra Energy Inc. (NYSE:CTRAFree Report) by 1.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,538,495 shares of the company’s stock after selling 56,390 shares during the period. DAVENPORT & Co LLC owned about 0.47% of Coterra Energy worth $90,407,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. bought a new position in shares of Coterra Energy during the 1st quarter valued at approximately $2,472,575,000. State Street Corp bought a new position in shares of Coterra Energy during the 1st quarter valued at approximately $1,493,855,000. Geode Capital Management LLC grew its position in shares of Coterra Energy by 5.7% during the 1st quarter. Geode Capital Management LLC now owns 18,494,265 shares of the company’s stock valued at $454,088,000 after acquiring an additional 1,000,620 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Coterra Energy by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,080,590 shares of the company’s stock valued at $434,980,000 after acquiring an additional 235,636 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Coterra Energy by 3.5% during the 3rd quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock valued at $431,329,000 after acquiring an additional 544,768 shares during the period. 87.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company raised shares of Coterra Energy from an “equal weight” rating to an “overweight” rating and set a $30.00 target price for the company in a research report on Thursday, December 14th. Piper Sandler raised their price objective on shares of Coterra Energy from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Mizuho cut their price objective on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, March 21st. Susquehanna raised shares of Coterra Energy from a “neutral” rating to a “positive” rating and cut their price objective for the stock from $31.00 to $30.00 in a report on Friday, January 26th. Finally, Citigroup raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $28.00 to $30.00 in a report on Monday, December 11th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.77.

Read Our Latest Report on Coterra Energy

Insider Activity

In other news, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the sale, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the transaction, the vice president now owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the transaction, the chief accounting officer now directly owns 176,758 shares in the company, valued at approximately $4,783,071.48. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Coterra Energy Price Performance

NYSE CTRA traded up $0.29 on Tuesday, hitting $28.31. The stock had a trading volume of 7,996,380 shares, compared to its average volume of 7,076,547. Coterra Energy Inc. has a 52-week low of $22.91 and a 52-week high of $29.89. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21. The company has a market capitalization of $21.28 billion, a price-to-earnings ratio of 13.23 and a beta of 0.21. The firm has a 50-day moving average of $25.92 and a 200-day moving average of $26.29.

Coterra Energy (NYSE:CTRAGet Free Report) last posted its earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.06). The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. Equities analysts expect that Coterra Energy Inc. will post 1.98 EPS for the current year.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.84 annualized dividend and a dividend yield of 2.97%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s dividend payout ratio (DPR) is 39.25%.

Coterra Energy Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Coterra Energy (NYSE:CTRA)

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