Coterra Energy Inc. (NYSE:CTRA) Shares Purchased by First Horizon Advisors Inc.

First Horizon Advisors Inc. raised its stake in Coterra Energy Inc. (NYSE:CTRA) by 381.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,246 shares of the company’s stock after acquiring an additional 4,156 shares during the quarter. First Horizon Advisors Inc.’s holdings in Coterra Energy were worth $134,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CTRA. International Assets Investment Management LLC acquired a new position in Coterra Energy in the 3rd quarter valued at $1,986,000. Wealth Enhancement Advisory Services LLC lifted its position in Coterra Energy by 19.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 45,640 shares of the company’s stock worth $1,093,000 after buying an additional 7,582 shares during the period. abrdn plc boosted its stake in Coterra Energy by 24.7% in the 3rd quarter. abrdn plc now owns 182,960 shares of the company’s stock worth $4,379,000 after buying an additional 36,239 shares during the last quarter. Nicholas Hoffman & Company LLC. grew its holdings in Coterra Energy by 13.1% in the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 34,703 shares of the company’s stock valued at $831,000 after buying an additional 4,021 shares during the period. Finally, Sippican Capital Advisors increased its stake in shares of Coterra Energy by 1.3% during the 3rd quarter. Sippican Capital Advisors now owns 64,019 shares of the company’s stock valued at $1,533,000 after acquiring an additional 834 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the sale, the senior vice president now directly owns 77,075 shares in the company, valued at $2,016,282. This trade represents a 27.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is owned by company insiders.

Coterra Energy Trading Down 1.9 %

NYSE CTRA opened at $26.87 on Thursday. The firm has a market capitalization of $19.79 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The company has a 50-day simple moving average of $27.29 and a 200-day simple moving average of $25.45. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.28%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is currently 50.60%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CTRA. Jefferies Financial Group raised their target price 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. Wells Fargo & Company upped their price objective on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Stephens lifted their target price on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Barclays upped their price target on Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, The Goldman Sachs Group lifted their price objective on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and an average target price of $33.47.

About Coterra Energy

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.