Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 26.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,216 shares of the company’s stock after selling 1,153 shares during the period. Federated Hermes Inc.’s holdings in Coterra Energy were worth $82,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its position in shares of Coterra Energy by 117.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company’s stock worth $123,036,000 after acquiring an additional 2,600,801 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Coterra Energy during the fourth quarter worth approximately $61,461,000. Schroder Investment Management Group lifted its position in shares of Coterra Energy by 18.2% during the 4th quarter. Schroder Investment Management Group now owns 11,776,525 shares of the company’s stock worth $300,537,000 after buying an additional 1,809,615 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of Coterra Energy by 668.0% in the 4th quarter. Truist Financial Corp now owns 1,616,660 shares of the company’s stock valued at $41,289,000 after buying an additional 1,406,170 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Coterra Energy by 1.9% during the 4th quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company’s stock worth $1,852,385,000 after acquiring an additional 1,318,754 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CTRA. Williams Trading set a $37.00 price target on Coterra Energy in a research report on Wednesday, March 5th. Scotiabank reduced their price target on shares of Coterra Energy from $38.00 to $33.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. Morgan Stanley set a $28.00 price objective on shares of Coterra Energy in a research report on Tuesday. Jefferies Financial Group upped their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, February 4th. Finally, Johnson Rice raised Coterra Energy from a “hold” rating to an “accumulate” rating and raised their price target for the stock from $34.00 to $37.00 in a report on Wednesday, March 12th. 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.05.

Insider Activity

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction 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 in the company, valued at $3,086,856.26. This trade represents a 19.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the company’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 value of $941,735.74. Following the completion of the sale, 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 disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Coterra Energy Price Performance

Shares of CTRA stock opened at $25.84 on Friday. The firm has a market capitalization of $19.74 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 0.59 and a beta of 0.47. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month 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 firm has a fifty day moving average of $27.14 and a 200-day moving average of $26.33.

Coterra Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $0.22 dividend. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date was Thursday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.41%. Coterra Energy’s dividend payout ratio (DPR) is currently 58.28%.

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.