Cibc World Markets Corp Has $2.97 Million Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Cibc World Markets Corp boosted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 15.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 116,338 shares of the company’s stock after purchasing an additional 15,681 shares during the period. Cibc World Markets Corp’s holdings in Coterra Energy were worth $2,971,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. City State Bank bought a new stake in Coterra Energy in the fourth quarter valued at approximately $26,000. AdvisorNet Financial Inc raised its stake in Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after buying an additional 744 shares during the period. MCF Advisors LLC raised its stake in Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after buying an additional 869 shares during the period. R Squared Ltd bought a new stake in Coterra Energy in the fourth quarter valued at approximately $32,000. Finally, Plato Investment Management Ltd bought a new stake in Coterra Energy in the fourth quarter valued at approximately $43,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Jefferies Financial Group upped their price objective on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, February 4th. Citigroup upped their price objective on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. lowered their target price on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Piper Sandler increased their target price on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Finally, UBS Group increased their target price on Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.14.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.

Coterra Energy Price Performance

Coterra Energy stock opened at $29.03 on Friday. The stock’s fifty day moving average price is $27.92 and its two-hundred day moving average price is $25.79. The firm has a market cap of $22.18 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. 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 current ratio of 1.61 and a quick ratio of 1.56.

Coterra Energy Increases Dividend

The firm also recently announced 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.03%. 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 dividend payout ratio (DPR) is currently 58.28%.

Coterra Energy 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.