Pinnacle Holdings LLC Takes Position in Coterra Energy Inc. (NYSE:CTRA)

Pinnacle Holdings LLC acquired a new position in shares of Coterra Energy Inc. (NYSE:CTRA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,818 shares of the company’s stock, valued at approximately $123,000.

Several other institutional investors have also added to or reduced their stakes in the stock. City State Bank bought a new position in Coterra Energy during the 4th quarter worth about $26,000. AdvisorNet Financial Inc raised its position in Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after buying an additional 744 shares during the last quarter. MCF Advisors LLC lifted its stake in Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after acquiring an additional 869 shares in the last quarter. R Squared Ltd acquired a new position in Coterra Energy during the 4th quarter worth approximately $32,000. Finally, Plato Investment Management Ltd bought a new position in shares of Coterra Energy during the 4th quarter worth approximately $43,000. 87.92% of the stock is owned by institutional investors.

Coterra Energy Price Performance

Shares of Coterra Energy stock opened at $24.62 on Wednesday. The company has a 50-day simple moving average of $27.59 and a two-hundred day simple moving average of $26.24. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The stock has a market capitalization of $18.82 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 0.59 and a beta of 0.47. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.57%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio is currently 58.28%.

Insiders Place Their Bets

In other news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction that occurred 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 directly owns 106,114 shares in the company, valued at $3,086,856.26. This trade represents a 19.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CTRA shares. Piper Sandler raised their price objective on Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. Johnson Rice raised Coterra Energy from a “hold” rating to an “accumulate” rating and boosted their price target for the stock from $34.00 to $37.00 in a research report on Wednesday, March 12th. Mizuho raised their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. The Goldman Sachs Group upped their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group lifted their price objective on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research report on Tuesday, February 4th. Three equities 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.15.

Coterra Energy 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.