Securian Asset Management Inc. Sells 1,298 Shares of Coterra Energy Inc. (NYSE:CTRA)

Securian Asset Management Inc. cut its holdings in Coterra Energy Inc. (NYSE:CTRA) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,589 shares of the company’s stock after selling 1,298 shares during the period. Securian Asset Management Inc.’s holdings in Coterra Energy were worth $1,011,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP boosted its holdings in Coterra Energy by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after buying an additional 15,736,247 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Coterra Energy by 5.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock worth $599,356,000 after buying an additional 1,310,965 shares during the period. Geode Capital Management LLC boosted its holdings in Coterra Energy by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock worth $453,628,000 after buying an additional 128,397 shares during the period. Victory Capital Management Inc. boosted its holdings in Coterra Energy by 5.0% in the 4th quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company’s stock worth $454,834,000 after buying an additional 845,609 shares during the period. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in Coterra Energy by 5.6% in the 3rd 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 period. 87.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CTRA has been the topic of several recent analyst reports. Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and increased their target price for the stock from $34.00 to $37.00 in a research note on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday. Piper Sandler increased their target price on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Wells Fargo & Company increased their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Jefferies Financial Group increased their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $34.10.

Insider Buying and Selling

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This trade represents a 21.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by corporate insiders.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $27.66 on Friday. The stock has a market cap of $21.13 billion, a PE ratio of 16.66, a PEG ratio of 0.59 and a beta of 0.26. The company’s fifty day moving average is $27.75 and its 200 day moving average is $25.66. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week 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.

Coterra Energy Increases Dividend

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

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.