Independent Advisor Alliance Decreases Position in Coterra Energy Inc. (NYSE:CTRA)

Independent Advisor Alliance reduced its stake in Coterra Energy Inc. (NYSE:CTRA) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,312 shares of the company’s stock after selling 2,498 shares during the period. Independent Advisor Alliance’s holdings in Coterra Energy were worth $1,234,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. City State Bank purchased a new position in shares of Coterra Energy in the 4th quarter valued at $26,000. AdvisorNet Financial Inc boosted its stake in Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after acquiring an additional 744 shares in the last quarter. MCF Advisors LLC grew its holdings in shares of Coterra Energy by 230.5% during the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after purchasing an additional 869 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Coterra Energy during the fourth quarter worth about $32,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of Coterra Energy in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA opened at $27.66 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The company has a 50-day simple moving average of $27.75 and a 200-day simple moving average of $25.66. The company has a market capitalization of $21.13 billion, a PE ratio of 16.66, a P/E/G ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.18%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is presently 58.28%.

Insider Transactions at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction on Monday, March 10th. The stock was 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 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 filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CTRA. JPMorgan Chase & Co. dropped their price target on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday. Wells Fargo & Company raised their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Citigroup upped their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and raised their price objective for the stock from $34.00 to $37.00 in a research report on Wednesday. Finally, Mizuho lifted their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued 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 price target of $34.10.

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.