Coterra Energy Inc. (NYSE:CTRA) Stake Cut by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. reduced its stake in Coterra Energy Inc. (NYSE:CTRA) by 17.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 326,990 shares of the company’s stock after selling 68,592 shares during the period. Brown Brothers Harriman & Co.’s holdings in Coterra Energy were worth $8,351,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CTRA. DnB Asset Management AS grew its holdings in Coterra Energy by 1.2% in the 4th quarter. DnB Asset Management AS now owns 141,423 shares of the company’s stock worth $3,612,000 after buying an additional 1,659 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in Coterra Energy by 16.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 104,325 shares of the company’s stock worth $2,664,000 after purchasing an additional 14,894 shares during the period. New Age Alpha Advisors LLC bought a new position in Coterra Energy during the 4th quarter valued at $5,048,000. Weik Capital Management increased its position in shares of Coterra Energy by 6.5% during the 4th quarter. Weik Capital Management now owns 32,960 shares of the company’s stock valued at $842,000 after purchasing an additional 2,000 shares during the period. Finally, Blair William & Co. IL raised its stake in shares of Coterra Energy by 4.1% in the 4th quarter. Blair William & Co. IL now owns 30,487 shares of the company’s stock worth $779,000 after buying an additional 1,187 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction 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 transaction, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. This represents a 21.82 % decrease in their position. 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 Coterra Energy stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the sale, the senior vice president now directly owns 106,114 shares of the company’s stock, 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. Corporate insiders own 1.70% of the company’s stock.

Coterra Energy Stock Up 0.4 %

CTRA stock opened at $28.65 on Friday. The company has a 50 day moving average of $27.91 and a two-hundred day moving average of $26.04. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The company has a market cap of $21.89 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $0.22 per share. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.07%. Coterra Energy’s dividend payout ratio (DPR) is presently 58.28%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CTRA. UBS Group lifted 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. Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and boosted their target price for the stock from $34.00 to $37.00 in a report on Wednesday, March 12th. Truist Financial raised their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Barclays lifted their price target on shares of Coterra Energy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 18th. Finally, Raymond James reduced their price objective on Coterra Energy from $41.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average target price of $34.35.

Coterra Energy 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.