DAVENPORT & Co LLC Sells 47,867 Shares of Coterra Energy Inc. $CTRA

DAVENPORT & Co LLC decreased its stake in Coterra Energy Inc. (NYSE:CTRA) by 6.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 667,497 shares of the company’s stock after selling 47,867 shares during the quarter. DAVENPORT & Co LLC owned about 0.09% of Coterra Energy worth $17,569,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC lifted its position in Coterra Energy by 63.2% in the fourth quarter. SG Americas Securities LLC now owns 276,632 shares of the company’s stock worth $7,281,000 after buying an additional 107,165 shares during the last quarter. Partnership Wealth Management LLC increased its position in Coterra Energy by 3.8% during the fourth quarter. Partnership Wealth Management LLC now owns 52,409 shares of the company’s stock valued at $1,379,000 after acquiring an additional 1,930 shares during the last quarter. Dynamic Advisor Solutions LLC increased its position in Coterra Energy by 54.2% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 55,574 shares of the company’s stock valued at $1,463,000 after acquiring an additional 19,541 shares during the last quarter. Fulton Bank N.A. lifted its stake in Coterra Energy by 2.9% in the fourth quarter. Fulton Bank N.A. now owns 22,115 shares of the company’s stock worth $582,000 after purchasing an additional 630 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Coterra Energy by 13.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 94,811 shares of the company’s stock valued at $2,377,000 after buying an additional 10,925 shares during the period. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Coterra Energy stock opened at $35.18 on Thursday. The company has a 50 day moving average price of $30.39 and a 200-day moving average price of $26.89. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19. Coterra Energy Inc. has a fifty-two week low of $22.33 and a fifty-two week high of $35.32. The company has a market capitalization of $26.71 billion, a PE ratio of 15.43, a P/E/G ratio of 0.87 and a beta of 0.38.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. Coterra Energy’s payout ratio is 38.60%.

Wall Street Analyst Weigh In

CTRA has been the topic of a number of analyst reports. Jefferies Financial Group upped their target price on Coterra Energy from $26.00 to $28.00 in a research note on Monday, March 9th. TD Cowen dropped their price objective on Coterra Energy from $33.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Scotiabank reaffirmed a “sector perform” rating and issued a $31.00 price objective on shares of Coterra Energy in a research report on Tuesday, February 3rd. Mizuho increased their target price on Coterra Energy from $36.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Finally, Stephens lifted their target price on Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, January 29th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.76.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.