Easterly Investment Partners LLC Sells 26,376 Shares of Coterra Energy Inc. (NYSE:CTRA)

Easterly Investment Partners LLC cut its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 478,897 shares of the company’s stock after selling 26,376 shares during the quarter. Easterly Investment Partners LLC owned approximately 0.07% of Coterra Energy worth $12,231,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Blair William & Co. IL lifted its holdings in shares of Coterra Energy by 4.1% in the 4th quarter. Blair William & Co. IL now owns 30,487 shares of the company’s stock worth $779,000 after buying an additional 1,187 shares during the period. NEOS Investment Management LLC lifted its stake in Coterra Energy by 31.5% in the fourth quarter. NEOS Investment Management LLC now owns 46,299 shares of the company’s stock worth $1,182,000 after acquiring an additional 11,098 shares during the period. UniSuper Management Pty Ltd grew its holdings in Coterra Energy by 13.6% during the 4th quarter. UniSuper Management Pty Ltd now owns 93,098 shares of the company’s stock worth $2,378,000 after acquiring an additional 11,110 shares in the last quarter. Elo Mutual Pension Insurance Co grew its holdings in Coterra Energy by 2.4% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 81,307 shares of the company’s stock worth $2,077,000 after acquiring an additional 1,891 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Coterra Energy by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,205,508 shares of the company’s stock valued at $31,633,000 after purchasing an additional 49,837 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CTRA shares. UBS Group lifted their price objective 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. Mizuho raised their price objective on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Raymond James reduced their target price on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. Barclays lifted their price objective on shares of Coterra Energy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. cut their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and a consensus target price of $34.30.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the completion of the transaction, the senior vice president now owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This trade represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the sale, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at $3,086,856.26. The trade was a 19.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Coterra Energy Stock Down 1.4 %

NYSE CTRA opened at $28.89 on Thursday. The business’s fifty day simple moving average is $27.96 and its 200-day simple moving average is $25.95. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm has a market cap of $22.08 billion, a PE ratio of 17.40, 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.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend 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 yield of 3.05%. Coterra Energy’s payout ratio is 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.