Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Meridian Wealth Management LLC

Meridian Wealth Management LLC reduced its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 50.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,183 shares of the company’s stock after selling 9,389 shares during the period. Meridian Wealth Management LLC’s holdings in Coterra Energy were worth $235,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Plato Investment Management Ltd acquired a new position in Coterra Energy during the 4th quarter worth $43,000. SBI Securities Co. Ltd. acquired a new position in shares of Coterra Energy in the 4th quarter valued at about $127,000. Jones Financial Companies Lllp boosted its holdings in shares of Coterra Energy by 67.8% in the 4th quarter. Jones Financial Companies Lllp now owns 75,032 shares of the company’s stock valued at $1,916,000 after buying an additional 30,323 shares during the period. SRS Capital Advisors Inc. boosted its holdings in shares of Coterra Energy by 9.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 6,056 shares of the company’s stock valued at $155,000 after buying an additional 514 shares during the period. Finally, Asahi Life Asset Management CO. LTD. acquired a new position in shares of Coterra Energy in the 4th quarter valued at about $345,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTRA has been the subject of several research reports. Citigroup lifted their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. UBS Group lifted their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group lifted their price target on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, February 4th. Morgan Stanley lifted their price objective on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company boosted their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $33.47.

Coterra Energy Trading Down 1.2 %

Shares of NYSE:CTRA opened at $26.15 on Thursday. The company has a 50 day moving average of $27.55 and a 200-day moving average of $25.54. The firm has a market cap of $19.98 billion, a P/E ratio of 15.75, a P/E/G ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.22 dividend. This is a positive change 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 3.37%. The ex-dividend date of this dividend is Thursday, March 13th. Coterra Energy’s dividend payout ratio is currently 58.28%.

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.