Weik Capital Management Increases Stake in Coterra Energy Inc. (NYSE:CTRA)

Weik Capital Management increased its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 6.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,960 shares of the company’s stock after purchasing an additional 2,000 shares during the period. Weik Capital Management’s holdings in Coterra Energy were worth $842,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of Coterra Energy by 28.4% during the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after buying an additional 15,736,247 shares during the period. Holocene Advisors LP boosted its holdings in Coterra Energy by 187.2% during the 3rd quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock valued at $108,572,000 after acquiring an additional 2,954,675 shares during the period. Raymond James Financial Inc. bought a new position in Coterra Energy in the 4th quarter valued at $61,461,000. Truist Financial Corp increased its stake in Coterra Energy by 668.0% in the fourth quarter. Truist Financial Corp now owns 1,616,660 shares of the company’s stock worth $41,289,000 after purchasing an additional 1,406,170 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Coterra Energy by 5.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock worth $599,356,000 after purchasing an additional 1,310,965 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. UBS Group upped their target price on Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. The Goldman Sachs Group raised their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Barclays increased their target price on shares of Coterra Energy from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, March 18th. Finally, Mizuho upped their price target on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and a consensus target price of $34.35.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $28.51 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The company’s 50 day moving average is $27.93 and its 200 day moving average is $25.97. The company has a market cap of $21.79 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Thursday, March 13th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio (DPR) is 58.28%.

Insider Activity

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were 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 of the company’s stock, valued at $3,086,856.26. This trade represents a 19.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.