Coterra Energy Inc. $CTRA Shares Sold by McCollum Christoferson Group LLC

Key Points

• McCollum Christoferson Group LLC reduced its position in Coterra by 18.7%, selling 52,500 shares and retaining 227,670 shares worth about $5.99 million, with Coterra representing roughly 1.7% of its portfolio.
• Brokerage sentiment is broadly positive: the stock has an average rating of "Moderate Buy" with 14 Buy and 9 Hold ratings and an average price target of $34.76 after several recent target increases.
• Coterra declared a quarterly dividend of $0.22 per share (ex-dividend March 11, payable March 25), equal to $0.88 annualized for an approximate 2.6% yield.

McCollum Christoferson Group LLC lowered its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 18.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 227,670 shares of the company's stock after selling 52,500 shares during the period. Coterra Energy makes up about 1.7% of McCollum Christoferson Group LLC's investment portfolio, making the stock its 25th largest position. McCollum Christoferson Group LLC's holdings in Coterra Energy were worth $5,992,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Advisors Asset Management Inc. grew its holdings in Coterra Energy by 0.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company's stock valued at $1,438,000 after purchasing an additional 398 shares in the last quarter. KLCM Advisors Inc. lifted its holdings in Coterra Energy by 4.2% in the 3rd quarter. KLCM Advisors Inc. now owns 9,855 shares of the company's stock worth $233,000 after buying an additional 400 shares in the last quarter. Pinnacle Associates Ltd. lifted its holdings in Coterra Energy by 2.8% in the 3rd quarter. Pinnacle Associates Ltd. now owns 15,336 shares of the company's stock worth $363,000 after buying an additional 415 shares in the last quarter. Profund Advisors LLC boosted its position in Coterra Energy by 1.4% in the 3rd quarter. Profund Advisors LLC now owns 30,969 shares of the company's stock valued at $732,000 after buying an additional 418 shares during the last quarter. Finally, AAFMAA Wealth Management & Trust LLC boosted its position in Coterra Energy by 1.0% in the 3rd quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company's stock valued at $1,017,000 after buying an additional 429 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CTRA. Stephens lifted their target price on Coterra Energy from $33.00 to $34.00 and gave the stock an "overweight" rating in a research report on Thursday, January 29th. Raymond James Financial increased their price target on Coterra Energy from $34.00 to $41.00 in a report on Monday, March 9th. BMO Capital Markets raised their price objective on Coterra Energy from $32.00 to $35.00 and gave the company a "market perform" rating in a research note on Tuesday, March 3rd. Scotiabank restated a "sector perform" rating and set a $31.00 price objective on shares of Coterra Energy in a research note on Tuesday, February 3rd. Finally, Weiss Ratings upgraded Coterra Energy from a "hold (c+)" rating to a "buy (b)" rating in a report on Monday, March 2nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $34.76.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $33.81 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19. Coterra Energy Inc. has a 1 year low of $22.33 and a 1 year high of $34.67. The firm's 50-day simple moving average is $29.99 and its 200-day simple moving average is $26.76. The firm has a market cap of $25.67 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 0.84 and a beta of 0.38.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be paid a dividend of $0.22 per share. The ex-dividend date is Wednesday, March 11th. This represents a $0.88 annualized dividend and a yield of 2.6%. Coterra Energy's dividend payout ratio is presently 38.60%.

Coterra Energy Company Profile

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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