Coterra Energy Inc. $CTRA Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 62.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,780,682 shares of the company's stock after selling 2,900,411 shares during the period. Truist Financial Corp owned about 0.23% of Coterra Energy worth $46,868,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GoalVest Advisory LLC acquired a new position in shares of Coterra Energy in the fourth quarter valued at approximately $28,000. Winnow Wealth LLC acquired a new position in Coterra Energy during the third quarter worth approximately $29,000. City Holding Co. increased its position in Coterra Energy by 144.4% during the fourth quarter. City Holding Co. now owns 1,222 shares of the company's stock worth $32,000 after purchasing an additional 722 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in Coterra Energy during the third quarter worth approximately $29,000. Finally, Triumph Capital Management acquired a new position in Coterra Energy during the third quarter worth approximately $31,000. Institutional investors and hedge funds own 87.92% of the company's stock.

Coterra Energy Price Performance

CTRA opened at $35.63 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 0.24. Coterra Energy Inc. has a 52-week low of $22.33 and a 52-week high of $36.88. The company has a 50 day moving average of $32.99 and a two-hundred day moving average of $28.84. The company has a market cap of $27.06 billion, a P/E ratio of 15.63, a P/E/G ratio of 0.53 and a beta of 0.32.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, March 11th. Coterra Energy's payout ratio is currently 38.60%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. BMO Capital Markets upped their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the stock a "market perform" rating in a research report on Tuesday, March 3rd. Scotiabank upped their price target on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. Citigroup upped their price target on shares of Coterra Energy from $32.00 to $42.00 and gave the stock a "buy" rating in a research report on Monday, March 30th. Siebert Williams Shank lowered shares of Coterra Energy from a "buy" rating to a "hold" rating in a research report on Friday, March 6th. Finally, Jefferies Financial Group upped their price target on shares of Coterra Energy from $28.00 to $33.00 and gave the stock a "hold" rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $37.32.

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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