Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Earnest Partners LLC

Earnest Partners LLC lessened its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,918,202 shares of the company's stock after selling 14,682 shares during the period. Earnest Partners LLC owned approximately 0.26% of Coterra Energy worth $48,991,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of CTRA. Wellington Management Group LLP lifted its stake in Coterra Energy by 1.9% during the 4th 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 in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Coterra Energy by 5.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company's stock worth $599,356,000 after purchasing an additional 1,310,965 shares during the period. Geode Capital Management LLC lifted its position in shares of Coterra Energy by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company's stock worth $486,528,000 after purchasing an additional 96,059 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Coterra Energy by 5.0% during the fourth quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company's stock worth $454,834,000 after purchasing an additional 845,609 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Coterra Energy by 9.0% in the fourth quarter. Invesco Ltd. now owns 12,232,484 shares of the company's stock valued at $312,418,000 after purchasing an additional 1,011,166 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Raymond James reduced their target price on shares of Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a report on Wednesday, March 12th. Morgan Stanley set a $28.00 target price on Coterra Energy in a report on Tuesday, April 15th. UBS Group cut their price target on Coterra Energy from $33.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Truist Financial boosted their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Finally, Susquehanna decreased their price target on Coterra Energy from $34.00 to $32.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $33.95.

Insiders Place Their Bets

In other news, SVP Michael D. Deshazer sold 35,377 shares of the company's stock in a transaction dated Monday, March 10th. The shares were 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. This represents a 21.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the transaction, the senior vice president now owns 106,114 shares in the company, valued at approximately $3,086,856.26. This trade represents a 19.52 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Coterra Energy Price Performance

Coterra Energy stock traded up $0.79 during mid-day trading on Friday, hitting $25.68. 7,846,908 shares of the company were exchanged, compared to its average volume of 6,216,938. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The company has a market capitalization of $19.62 billion, a P/E ratio of 15.47, a PEG ratio of 0.59 and a beta of 0.47. The business's 50 day simple moving average is $26.64 and its two-hundred day simple moving average is $26.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.43%. This is a positive change from Coterra Energy's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, March 13th. 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.