Coterra Energy Inc. $CTRA Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP reduced its stake in Coterra Energy by 1.8% in Q3, selling 188,768 shares and now owns 10,315,274 shares (1.35% of the company) valued at $243.955 million.
• Analysts hold a consensus "Moderate Buy" on Coterra with a $33.95 price target—15 analysts rate it Buy, 7 Hold and 1 Sell—with recent price targets ranging roughly from $28 to $41.
• Coterra declared a quarterly dividend of $0.22 per share (annualized $0.88, yield 2.8%), with an ex-dividend date of March 11 and payable March 25.

Dimensional Fund Advisors LP reduced its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,315,274 shares of the company's stock after selling 188,768 shares during the quarter. Dimensional Fund Advisors LP owned 1.35% of Coterra Energy worth $243,955,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Advisors Asset Management Inc. grew its position in Coterra Energy by 0.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company's stock valued at $1,438,000 after buying an additional 398 shares during the last quarter. Profund Advisors LLC raised its position in Coterra Energy by 1.4% during the 3rd quarter. Profund Advisors LLC now owns 30,969 shares of the company's stock worth $732,000 after buying an additional 418 shares during the last quarter. AAFMAA Wealth Management & Trust LLC lifted its stake in shares of Coterra Energy by 1.0% in the 3rd quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company's stock worth $1,017,000 after acquiring an additional 429 shares during the period. Trust Co. of Vermont lifted its stake in shares of Coterra Energy by 1.5% in the 3rd quarter. Trust Co. of Vermont now owns 30,832 shares of the company's stock worth $729,000 after acquiring an additional 454 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Coterra Energy by 2.1% in the third quarter. GAMMA Investing LLC now owns 22,763 shares of the company's stock valued at $538,000 after acquiring an additional 462 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on CTRA. Barclays cut their price target on shares of Coterra Energy from $35.00 to $34.00 and set an "overweight" rating for the company in a report on Wednesday, January 21st. Piper Sandler boosted their target price on Coterra Energy from $36.00 to $41.00 and gave the stock an "overweight" rating in a research report on Thursday. Wolfe Research increased their target price on Coterra Energy from $33.00 to $40.00 in a research note on Tuesday, February 3rd. Mizuho raised their price target on Coterra Energy from $33.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday, January 15th. Finally, Roth Mkm set a $28.00 price target on Coterra Energy and gave the company a "neutral" rating in a research note on Tuesday, February 3rd. Fifteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.95.

Coterra Energy Trading Down 0.1%

NYSE:CTRA opened at $31.12 on Friday. Coterra Energy Inc. has a 52-week low of $22.33 and a 52-week high of $32.67. The company has a quick ratio of 0.98, a current ratio of 1.19 and a debt-to-equity ratio of 0.24. The stock has a fifty day simple moving average of $28.51 and a 200-day simple moving average of $26.09. The company has a market capitalization of $23.63 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 0.77 and a beta of 0.38.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, March 11th. Coterra Energy's dividend payout ratio is 38.60%.

About Coterra Energy

Coterra Energy NYSE: CTRA is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.

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