Wealthfront Advisers LLC Acquires 62,110 Shares of Coterra Energy Inc. (NYSE:CTRA)

Wealthfront Advisers LLC increased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 27.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 285,674 shares of the company’s stock after purchasing an additional 62,110 shares during the period. Wealthfront Advisers LLC’s holdings in Coterra Energy were worth $7,296,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. City State Bank bought a new position in Coterra Energy during the fourth quarter worth about $26,000. AdvisorNet Financial Inc grew its holdings in Coterra Energy by 192.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after purchasing an additional 744 shares during the period. MCF Advisors LLC grew its holdings in 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 period. R Squared Ltd bought a new stake in shares of Coterra Energy during the fourth quarter worth approximately $32,000. Finally, Plato Investment Management Ltd bought a new stake in shares of Coterra Energy during the fourth quarter worth approximately $43,000. Institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CTRA. Mizuho boosted their price objective on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Jefferies Financial Group boosted their price objective on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and set a $37.00 price objective for the company in a report on Wednesday. Morgan Stanley boosted their price objective on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Finally, Johnson Rice upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and boosted their price objective for the stock from $34.00 to $37.00 in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.29.

Insider Transactions at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the sale, the senior vice president now directly owns 126,770 shares in the company, valued at $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.70% of the company’s stock.

Coterra Energy Stock Up 1.3 %

Shares of NYSE:CTRA opened at $27.24 on Thursday. The company has a fifty day moving average of $27.71 and a 200-day moving average of $25.63. The company has a market capitalization of $20.81 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95.

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 issued a dividend of $0.22 per share. The ex-dividend date is Thursday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 3.23%. Coterra Energy’s dividend payout ratio is 58.28%.

Coterra Energy Company 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.