Congress Wealth Management LLC DE Boosts Holdings in Coterra Energy Inc. (NYSE:CTRA)

Congress Wealth Management LLC DE grew its position in Coterra Energy Inc. (NYSE:CTRA) by 15.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,076 shares of the company’s stock after acquiring an additional 5,649 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Coterra Energy were worth $1,075,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CTRA. City State Bank purchased a new stake in Coterra Energy in the 4th quarter worth about $26,000. AdvisorNet Financial Inc grew its position in Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after acquiring an additional 744 shares during the last quarter. MCF Advisors LLC lifted 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 in the last quarter. R Squared Ltd purchased a new position in shares of Coterra Energy during the fourth quarter worth approximately $32,000. Finally, Plato Investment Management Ltd bought a new stake in shares of Coterra Energy during the fourth quarter valued at approximately $43,000. Institutional investors own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CTRA. Barclays raised their price objective on Coterra Energy from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, March 18th. Piper Sandler lifted 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. Truist Financial upped their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Williams Trading set a $37.00 target price on shares of Coterra Energy in a research report on Wednesday, March 5th. Finally, Raymond James lowered their price target on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, March 12th. Three 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.35.

Insider Buying and Selling

In other news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction dated 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 in the company, valued at $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin William Smith sold 25,733 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the transaction, the senior vice president now owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. This represents 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 1.2 %

CTRA stock opened at $28.51 on Friday. The firm has a 50 day moving average of $27.93 and a 200 day moving average of $25.97. The stock has a market capitalization of $21.79 billion, a PE ratio of 17.18, a price-to-earnings-growth 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 quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.09%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date was Thursday, March 13th. Coterra Energy’s dividend payout ratio is presently 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.