Y Intercept Hong Kong Ltd reduced its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 32.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,102 shares of the company's stock after selling 28,308 shares during the period. Y Intercept Hong Kong Ltd's holdings in Coterra Energy were worth $1,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in Coterra Energy by 28.4% during the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company's stock valued at $1,705,480,000 after purchasing an additional 15,736,247 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Coterra Energy by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company's stock valued at $530,645,000 after purchasing an additional 305,626 shares during the last quarter. Geode Capital Management LLC grew its stake in Coterra Energy by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company's stock valued at $453,628,000 after purchasing an additional 128,397 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Coterra Energy by 1.2% in the third quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company's stock worth $406,266,000 after buying an additional 195,966 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its stake in shares of Coterra Energy by 5.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company's stock worth $128,085,000 after buying an additional 284,106 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.
In related news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the transaction, the senior vice president now owns 77,075 shares in the company, valued at approximately $2,016,282. This trade represents a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.70% of the company's stock.
Several analysts recently commented on CTRA shares. Morgan Stanley raised their target price on Coterra Energy from $27.00 to $29.00 and gave the stock an "equal weight" rating in a report on Thursday, November 14th. Truist Financial raised their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a report on Monday, January 13th. UBS Group raised 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. Jefferies Financial Group raised their target price on Coterra Energy from $26.00 to $28.00 and gave the stock a "hold" rating in a report on Tuesday, February 4th. Finally, Raymond James raised their target price on Coterra Energy from $35.00 to $41.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Coterra Energy presently has an average rating of "Moderate Buy" and a consensus target price of $33.42.
Check Out Our Latest Research Report on CTRA
NYSE CTRA opened at $27.38 on Wednesday. The company has a market cap of $20.17 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The stock's 50 day simple moving average is $27.29 and its 200-day simple moving average is $25.45. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Thursday, March 13th. This is an increase from Coterra Energy's previous quarterly dividend of $0.21. Coterra Energy's dividend payout ratio (DPR) is 50.60%.
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.
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