Checchi Capital Advisers LLC Buys 824 Shares of Coterra Energy Inc. (NYSE:CTRA)

Checchi Capital Advisers LLC increased its stake in Coterra Energy Inc. (NYSE:CTRA) by 7.9% in the fourth quarter, HoldingsChannel reports. The fund owned 11,311 shares of the company’s stock after purchasing an additional 824 shares during the period. Checchi Capital Advisers LLC’s holdings in Coterra Energy were worth $289,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. National Pension Service grew its holdings in shares of Coterra Energy by 0.5% in the fourth quarter. National Pension Service now owns 1,342,737 shares of the company’s stock worth $34,294,000 after purchasing an additional 6,857 shares during the last quarter. Argonautica Private Wealth Management Inc. grew its holdings in Coterra Energy by 5.7% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 11,805 shares of the company’s stock worth $302,000 after acquiring an additional 632 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in shares of Coterra Energy by 20.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 441,863 shares of the company’s stock valued at $11,285,000 after acquiring an additional 76,509 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Coterra Energy by 5.5% during the fourth quarter. Bank of New York Mellon Corp now owns 4,943,266 shares of the company’s stock valued at $126,251,000 after acquiring an additional 259,858 shares during the last quarter. Finally, Sentry Investment Management LLC boosted its holdings in shares of Coterra Energy by 10.0% during the fourth quarter. Sentry Investment Management LLC now owns 18,764 shares of the company’s stock worth $479,000 after purchasing an additional 1,702 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Coterra Energy

In other news, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the completion of the sale, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Citigroup increased their price objective on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Wells Fargo & Company boosted their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Mizuho raised their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. The Goldman Sachs Group boosted their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Stephens raised their price objective on shares of Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.47.

Coterra Energy Stock Performance

Shares of NYSE CTRA opened at $26.40 on Friday. The firm’s 50-day moving average price is $27.35 and its 200-day moving average price is $25.46. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The company has a market cap of $19.44 billion, a PE ratio of 15.90, a PEG ratio of 0.59 and a beta of 0.26. 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 announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Thursday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is 50.60%.

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.