McCollum Christoferson Group LLC Decreases Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

McCollum Christoferson Group LLC reduced its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 1.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 280,185 shares of the company’s stock after selling 5,515 shares during the quarter. Coterra Energy comprises approximately 2.1% of McCollum Christoferson Group LLC’s holdings, making the stock its 23rd largest holding. McCollum Christoferson Group LLC’s holdings in Coterra Energy were worth $7,156,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. City State Bank purchased a new stake in Coterra Energy during the fourth quarter valued at approximately $26,000. AdvisorNet Financial Inc increased its position in shares of Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after purchasing an additional 744 shares during the last quarter. MCF Advisors LLC raised its holdings in Coterra Energy by 230.5% during the 4th 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 purchased a new position in Coterra Energy during the fourth quarter worth $32,000. Finally, Plato Investment Management Ltd bought a new position in Coterra Energy during the fourth quarter valued at $43,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

NYSE CTRA opened at $28.73 on Monday. The company has a market cap of $21.95 billion, a PE ratio of 17.31, a P/E/G ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-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. The firm’s 50 day moving average price is $27.94 and its 200-day moving average price is $25.85.

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 issued a $0.22 dividend. The ex-dividend date is Thursday, March 13th. This is an increase 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 3.06%. Coterra Energy’s dividend payout ratio (DPR) is currently 58.28%.

Insider Transactions at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total transaction of $748,572.97. Following the transaction, the senior vice president now owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. This trade represents a 19.52 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CTRA. JPMorgan Chase & Co. lowered their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Barclays boosted their target price on Coterra Energy from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, March 18th. UBS Group increased their price target on Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Piper Sandler boosted their price objective on Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. Finally, Citigroup upped their price objective on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Three equities research 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.30.

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.