Canada Pension Plan Investment Board Has $12.13 Million Holdings in Coterra Energy Inc. (NYSE:CTRA)

Canada Pension Plan Investment Board trimmed its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 26.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 474,975 shares of the company's stock after selling 166,878 shares during the period. Canada Pension Plan Investment Board owned about 0.06% of Coterra Energy worth $12,131,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP boosted its position in Coterra Energy by 1.9% during the fourth quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company's stock worth $1,852,385,000 after acquiring an additional 1,318,754 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Coterra Energy by 5.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company's stock valued at $599,356,000 after purchasing an additional 1,310,965 shares during the period. Geode Capital Management LLC increased its stake in Coterra Energy by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company's stock valued at $486,528,000 after purchasing an additional 96,059 shares during the last quarter. Victory Capital Management Inc. boosted its stake 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 last quarter. Finally, Invesco Ltd. grew its holdings in Coterra Energy by 9.0% in the 4th quarter. Invesco Ltd. now owns 12,232,484 shares of the company's stock valued at $312,418,000 after buying an additional 1,011,166 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction that occurred 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 sale, the senior vice president now directly owns 126,770 shares of the company's stock, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the transaction, the senior vice president now owns 106,114 shares of the company's stock, valued at $3,086,856.26. This represents a 19.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

Coterra Energy Stock Down 0.4 %

Shares of Coterra Energy stock traded down $0.09 on Friday, hitting $25.37. 3,411,100 shares of the company traded hands, compared to its average volume of 6,199,965. The company has a 50-day moving average price of $26.90 and a 200 day moving average price of $26.33. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The company has a market cap of $19.39 billion, a PE ratio of 15.28, a PEG ratio of 0.59 and a beta of 0.47. 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 business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $0.22 per share. This is a positive change from Coterra Energy's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend was Thursday, March 13th. Coterra Energy's dividend payout ratio (DPR) is 58.28%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CTRA. Jefferies Financial Group upped their price target on shares of Coterra Energy from $26.00 to $28.00 and gave the stock a "hold" rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their target price on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Johnson Rice raised shares of Coterra Energy from a "hold" rating to an "accumulate" rating and increased their price objective for the stock from $34.00 to $37.00 in a research report on Wednesday, March 12th. Williams Trading set a $37.00 price target on Coterra Energy in a report on Wednesday, March 5th. Finally, UBS Group reduced their price objective on Coterra Energy from $33.00 to $32.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $34.00.

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.