Diamond Hill Capital Management Inc. Reduces Holdings in Coterra Energy Inc. (NYSE:CTRA)

Diamond Hill Capital Management Inc. lowered its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 8.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,961,929 shares of the company’s stock after selling 272,466 shares during the quarter. Diamond Hill Capital Management Inc. owned approximately 0.40% of Coterra Energy worth $75,648,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CTRA. Assetmark Inc. boosted its position in Coterra Energy by 11.7% during the third quarter. Assetmark Inc. now owns 93,849 shares of the company’s stock worth $2,248,000 after acquiring an additional 9,840 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its position in Coterra Energy by 4.2% during the third quarter. Nations Financial Group Inc. IA ADV now owns 17,777 shares of the company’s stock worth $426,000 after acquiring an additional 724 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Coterra Energy by 2.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,650,859 shares of the company’s stock worth $39,538,000 after acquiring an additional 40,569 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Coterra Energy in the 3rd quarter valued at $376,000. Finally, Hourglass Capital LLC boosted its holdings in shares of Coterra Energy by 58.0% in the 3rd quarter. Hourglass Capital LLC now owns 16,350 shares of the company’s stock valued at $392,000 after purchasing an additional 6,000 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Trading Down 2.0 %

NYSE CTRA opened at $26.69 on Friday. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company has a 50-day simple moving average of $27.72 and a 200-day simple moving average of $25.64. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The firm has a market capitalization of $20.40 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $0.22 dividend. 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. This represents a $0.88 annualized dividend and a dividend yield of 3.30%. Coterra Energy’s payout ratio is 58.28%.

Wall Street Analysts Forecast Growth

CTRA has been the topic of a number of research analyst reports. UBS Group lifted their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group raised their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, February 4th. Raymond James cut their target price on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a research note on Wednesday. Citigroup raised their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Truist Financial raised their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.10.

Insider Activity

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were 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 directly owns 126,770 shares of the company’s stock, valued at $3,374,617.40. The trade was a 21.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.70% of the company’s stock.

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.