Simmons Bank Sells 1,241 Shares of Coterra Energy Inc. (NYSE:CTRA)

Simmons Bank decreased its position in Coterra Energy Inc. (NYSE:CTRA) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 102,906 shares of the company’s stock after selling 1,241 shares during the quarter. Simmons Bank’s holdings in Coterra Energy were worth $2,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in shares of Coterra Energy in the 3rd quarter worth approximately $1,986,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Coterra Energy by 19.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 45,640 shares of the company’s stock worth $1,093,000 after purchasing an additional 7,582 shares during the period. abrdn plc boosted its holdings in shares of 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 purchasing an additional 36,239 shares during the period. Nicholas Hoffman & Company LLC. boosted its holdings in shares of Coterra Energy by 13.1% in the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 34,703 shares of the company’s stock worth $831,000 after purchasing an additional 4,021 shares during the period. Finally, Sippican Capital Advisors boosted its holdings in shares of Coterra Energy by 1.3% in the 3rd quarter. Sippican Capital Advisors now owns 64,019 shares of the company’s stock worth $1,533,000 after purchasing an additional 834 shares during the period. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Down 1.9 %

Shares of NYSE CTRA opened at $26.87 on Thursday. 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 capitalization of $19.79 billion, a P/E ratio of 16.18, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The business has a fifty day moving average price of $27.29 and a 200 day moving average price of $25.45.

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 paid a dividend of $0.22 per share. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Thursday, March 13th. Coterra Energy’s dividend payout ratio is 50.60%.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of equities analysts have recently commented on CTRA shares. Raymond James lifted their target price on Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Susquehanna lifted their target price on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Mizuho boosted their price objective on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 16th. The Goldman Sachs Group boosted their price objective on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Morgan Stanley boosted their price objective on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $33.47.

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.