Tocqueville Asset Management L.P. Sells 58,894 Shares of Coterra Energy Inc. (NYSE:CTRA)

Tocqueville Asset Management L.P. cut its holdings in Coterra Energy Inc. (NYSE:CTRA) by 71.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,300 shares of the company’s stock after selling 58,894 shares during the period. Tocqueville Asset Management L.P.’s holdings in Coterra Energy were worth $595,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Coterra Energy by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after buying an additional 305,626 shares during the last quarter. Czech National Bank boosted its stake in shares of Coterra Energy by 6.1% during the 4th quarter. Czech National Bank now owns 159,713 shares of the company’s stock worth $4,079,000 after purchasing an additional 9,115 shares during the period. Bourgeon Capital Management LLC boosted its stake in shares of Coterra Energy by 107.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock worth $6,052,000 after purchasing an additional 122,487 shares during the period. Hartford Funds Management Co LLC purchased a new position in shares of Coterra Energy during the 3rd quarter worth about $575,000. Finally, M.E. Allison & CO. Inc. purchased a new position in shares of Coterra Energy during the 4th quarter worth about $217,000. 87.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CTRA has been the subject of a number of recent analyst reports. Piper Sandler lifted their price target on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Raymond James dropped their price target on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, March 12th. Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and lifted their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. Williams Trading set a $37.00 price objective on shares of Coterra Energy in a report on Wednesday, March 5th. Finally, Truist Financial lifted their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.14.

Insider Buying and Selling

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the sale, the senior vice president now owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is currently owned by company insiders.

Coterra Energy Trading Up 1.6 %

NYSE CTRA opened at $29.23 on Thursday. 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 firm has a market cap of $22.33 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The company has a 50 day moving average price of $27.88 and a 200 day moving average price of $25.76. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95.

Coterra Energy Increases Dividend

The company 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 dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.01%. 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. Coterra Energy’s payout ratio is 58.28%.

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.