DAVENPORT & Co LLC Sells 56,390 Shares of Coterra Energy Inc. (NYSE:CTRA)

DAVENPORT & Co LLC reduced its position in Coterra Energy Inc. (NYSE:CTRAFree Report) by 1.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,538,495 shares of the company’s stock after selling 56,390 shares during the quarter. DAVENPORT & Co LLC’s holdings in Coterra Energy were worth $90,407,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. bought a new stake in shares of Coterra Energy in the 1st quarter valued at about $2,472,575,000. State Street Corp purchased a new position in shares of Coterra Energy in the 1st quarter valued at approximately $1,493,855,000. Geode Capital Management LLC raised its position in shares of Coterra Energy by 5.7% in the 1st quarter. Geode Capital Management LLC now owns 18,494,265 shares of the company’s stock valued at $454,088,000 after purchasing an additional 1,000,620 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Coterra Energy by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,080,590 shares of the company’s stock valued at $434,980,000 after purchasing an additional 235,636 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Coterra Energy by 3.5% in the 3rd quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock valued at $431,329,000 after purchasing an additional 544,768 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors.

Insider Activity at Coterra Energy

In related news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the sale, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the sale, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction on Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the sale, the vice president now directly owns 93,988 shares in the company, valued at approximately $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Coterra Energy Stock Performance

Shares of NYSE:CTRA traded up $0.29 during trading on Tuesday, hitting $28.31. 7,996,380 shares of the stock traded hands, compared to its average volume of 7,076,547. The company has a fifty day moving average price of $25.92 and a two-hundred day moving average price of $26.29. Coterra Energy Inc. has a 52-week low of $22.91 and a 52-week high of $29.89. The company has a market cap of $21.28 billion, a price-to-earnings ratio of 13.23 and a beta of 0.21. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12.

Coterra Energy (NYSE:CTRAGet Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. As a group, equities analysts predict that Coterra Energy Inc. will post 1.98 EPS for the current year.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.21 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.84 dividend on an annualized basis and a yield of 2.97%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s dividend payout ratio (DPR) is currently 39.25%.

Analysts Set New Price Targets

CTRA has been the subject of several research analyst reports. Susquehanna raised shares of Coterra Energy from a “neutral” rating to a “positive” rating and decreased their price objective for the company from $31.00 to $30.00 in a research report on Friday, January 26th. Wells Fargo & Company raised shares of Coterra Energy from an “equal weight” rating to an “overweight” rating and set a $30.00 price objective for the company in a research report on Thursday, December 14th. UBS Group increased their price objective on shares of Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Mizuho decreased their price objective on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, March 21st. Finally, Morgan Stanley decreased their price objective on shares of Coterra Energy from $27.00 to $26.00 and set an “equal weight” rating for the company in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.77.

Check Out Our Latest Stock Report on CTRA

Coterra Energy Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Coterra Energy (NYSE:CTRA)

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