Coterra Energy Inc. (NYSE:CTRA) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 300,210 shares of the company’s stock after selling 10,882 shares during the quarter. M&T Bank Corp’s holdings in Coterra Energy were worth $7,668,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CTRA. City State Bank bought a new position in shares of Coterra Energy during the fourth quarter worth about $26,000. AdvisorNet Financial Inc lifted its holdings in Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after buying an additional 744 shares during the last quarter. MCF Advisors LLC grew its position in shares of Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after acquiring an additional 869 shares in the last quarter. R Squared Ltd bought a new stake in shares of Coterra Energy in the 4th quarter valued at approximately $32,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of Coterra Energy during the 4th quarter valued at approximately $43,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on CTRA shares. Raymond James boosted their target price on shares of Coterra Energy from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Susquehanna boosted their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Truist Financial raised their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th. UBS Group upped their target price on Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Mizuho raised their price target on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.63.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $25.50 on Friday. The stock’s 50 day moving average price is $27.60 and its 200 day moving average price is $25.54. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The stock has a market cap of $19.49 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $0.22 dividend. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.45%. Coterra Energy’s dividend payout ratio is 58.28%.

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.