Amalgamated Bank Has $3.60 Million Position in Coterra Energy Inc. (NYSE:CTRA)

Amalgamated Bank lessened its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,098 shares of the company’s stock after selling 4,474 shares during the period. Amalgamated Bank’s holdings in Coterra Energy were worth $3,604,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP lifted its stake in Coterra Energy by 28.4% in the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after buying an additional 15,736,247 shares in the last quarter. Holocene Advisors LP lifted its position in Coterra Energy by 187.2% in the 3rd quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock valued at $108,572,000 after acquiring an additional 2,954,675 shares in the last quarter. Truist Financial Corp boosted its stake in Coterra Energy by 668.0% in the 4th quarter. Truist Financial Corp now owns 1,616,660 shares of the company’s stock worth $41,289,000 after purchasing an additional 1,406,170 shares during the period. Weiss Asset Management LP bought a new position in Coterra Energy during the 3rd quarter worth about $28,380,000. Finally, Erste Asset Management GmbH bought a new position in Coterra Energy during the 3rd quarter worth about $21,555,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Mizuho boosted their price target on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Susquehanna upped their price target on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Raymond James raised their price target on shares of Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Piper Sandler boosted their price objective on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Truist Financial raised their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Three 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.47.

Coterra Energy Stock Up 2.3 %

CTRA opened at $27.01 on Friday. The stock has a fifty day moving average of $27.41 and a 200-day moving average of $25.47. The company has a market capitalization of $20.64 billion, a P/E ratio of 16.27, a P/E/G ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $0.22 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.26%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is currently 58.28%.

Insiders Place Their Bets

In related news, SVP Kevin William Smith sold 29,643 shares of the business’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 completion of the sale, the senior vice president now directly owns 77,075 shares in the company, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.70% of the company’s stock.

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.