Centiva Capital LP decreased its holdings in Coterra Energy Inc. (NYSE:CTRA – Free Report) by 46.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,842 shares of the company’s stock after selling 22,339 shares during the quarter. Centiva Capital LP’s holdings in Coterra Energy were worth $660,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Cary Street Partners Financial LLC purchased a new stake in shares of Coterra Energy in the 4th quarter worth $115,000. Bayesian Capital Management LP purchased a new stake in Coterra Energy in the fourth quarter worth about $3,790,000. Black Maple Capital Management LP raised its stake in shares of Coterra Energy by 307.7% in the fourth quarter. Black Maple Capital Management LP now owns 53,000 shares of the company’s stock worth $1,354,000 after buying an additional 40,000 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Coterra Energy by 19.3% during the 4th quarter. Ameriprise Financial Inc. now owns 1,340,525 shares of the company’s stock valued at $34,237,000 after buying an additional 216,865 shares in the last quarter. Finally, Algert Global LLC bought a new position in shares of Coterra Energy during the 4th quarter valued at approximately $374,000. 87.92% of the stock is currently owned by institutional investors.
Coterra Energy Stock Performance
Shares of NYSE:CTRA opened at $23.12 on Friday. The firm has a fifty day simple moving average of $26.36 and a two-hundred day simple moving average of $26.35. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $17.66 billion, a P/E ratio of 13.93, a PEG ratio of 0.59 and a beta of 0.33.
Coterra Energy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 3.81%. Coterra Energy’s dividend payout ratio is presently 51.16%.
Analysts Set New Price Targets
Several equities analysts have weighed in on CTRA shares. Raymond James lowered their price target on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and lifted their target price for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. JPMorgan Chase & Co. cut their price target on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Bank of America lowered their price objective on Coterra Energy from $34.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Finally, Morgan Stanley set a $28.00 target price on Coterra Energy in a research report on Tuesday, April 15th. Three equities 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $33.85.
Check Out Our Latest Report on CTRA
Insiders Place Their Bets
In related news, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the completion of the transaction, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. The trade was a 21.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the 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 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 disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.
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.
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