Alliancebernstein L.P. Lowers Holdings in Coterra Energy Inc. (NYSE:CTRA)

Alliancebernstein L.P. trimmed its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 850,347 shares of the company’s stock after selling 5,457 shares during the period. Alliancebernstein L.P.’s holdings in Coterra Energy were worth $21,718,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP increased its holdings in Coterra Energy by 1.9% in the fourth quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company’s stock valued at $1,852,385,000 after buying an additional 1,318,754 shares in the last quarter. Hartree Partners LP purchased a new position in shares of Coterra Energy in the 4th quarter valued at about $5,619,000. Schroder Investment Management Group raised its holdings in Coterra Energy by 18.2% in the 4th quarter. Schroder Investment Management Group now owns 11,776,525 shares of the company’s stock worth $300,537,000 after purchasing an additional 1,809,615 shares during the period. Allstate Corp purchased a new position in Coterra Energy during the fourth quarter worth approximately $547,000. Finally, DnB Asset Management AS grew its holdings in Coterra Energy by 1.2% in the fourth quarter. DnB Asset Management AS now owns 141,423 shares of the company’s stock valued at $3,612,000 after purchasing an additional 1,659 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CTRA has been the topic of a number of recent analyst reports. Truist Financial increased their target price on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, January 13th. UBS Group dropped their target price on shares of Coterra Energy from $37.00 to $33.00 and set a “buy” rating on the stock in a research report on Monday. 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. Mizuho lifted their price objective on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Finally, The Goldman Sachs Group increased their target price on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.15.

Coterra Energy Stock Performance

Coterra Energy stock opened at $25.00 on Tuesday. The firm has a 50 day simple moving average of $27.73 and a 200-day simple moving average of $26.24. The stock has a market cap of $19.10 billion, a price-to-earnings ratio of 15.06, a price-to-earnings-growth ratio of 0.59 and a beta of 0.47. 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 Inc. has a 1-year low of $22.30 and a 1-year high of $29.95.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $0.22 dividend. The ex-dividend date was Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.52%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is currently 58.28%.

Insider Activity

In related news, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total transaction of $748,572.97. Following the transaction, the senior vice president now directly owns 106,114 shares of the company’s stock, 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. Corporate insiders own 1.70% of the company’s stock.

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.