Larson Financial Group LLC Purchases 2,383 Shares of Coterra Energy Inc. (NYSE:CTRA)

Larson Financial Group LLC lifted its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 247.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,345 shares of the company’s stock after buying an additional 2,383 shares during the quarter. Larson Financial Group LLC’s holdings in Coterra Energy were worth $85,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in CTRA. Charles Schwab Investment Management Inc. increased its stake in Coterra Energy by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after acquiring an additional 305,626 shares during the period. Czech National Bank increased its stake in Coterra Energy by 6.1% during the 4th quarter. Czech National Bank now owns 159,713 shares of the company’s stock worth $4,079,000 after acquiring an additional 9,115 shares during the period. Bourgeon Capital Management LLC increased its stake in Coterra Energy by 107.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock worth $6,052,000 after acquiring an additional 122,487 shares during the period. Hartford Funds Management Co LLC bought a new position in Coterra Energy during the 3rd quarter worth $575,000. Finally, M.E. Allison & CO. Inc. bought a new position in Coterra Energy during the 4th quarter worth $217,000. Institutional investors own 87.92% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy 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 completion of the transaction, the senior vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.70% of the company’s stock.

Coterra Energy Stock Up 1.3 %

Shares of CTRA opened at $27.24 on Thursday. The company has a market capitalization of $20.81 billion, a PE ratio of 16.41, a PEG ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The stock’s 50-day moving average price is $27.71 and its two-hundred day moving average price is $25.63. 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 announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued 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 annualized dividend and a yield of 3.23%. Coterra Energy’s payout ratio is presently 58.28%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CTRA shares. Susquehanna lifted their price target on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Mizuho lifted their price target on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Wells Fargo & Company lifted their price target on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. UBS Group lifted their price target on Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Piper Sandler lifted their price target on Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.29.

Coterra Energy Company 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.