Alliancebernstein L.P. Sells 5,457 Shares of Coterra Energy Inc. (NYSE:CTRA)

Alliancebernstein L.P. lowered its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 850,347 shares of the company’s stock after selling 5,457 shares during the quarter. Alliancebernstein L.P. owned 0.12% of Coterra Energy worth $21,718,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. City State Bank purchased a new stake in shares of Coterra Energy during the fourth quarter valued at $26,000. AdvisorNet Financial Inc boosted 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 buying an additional 744 shares during the period. MCF Advisors LLC grew its stake in Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after acquiring 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.

Coterra Energy Price Performance

Shares of CTRA stock opened at $25.00 on Tuesday. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two 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 has a market capitalization of $19.10 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 0.59 and a beta of 0.47. The stock’s 50-day simple moving average is $27.73 and its 200-day simple moving average is $26.24.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.52%. The ex-dividend date was Thursday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is currently 58.28%.

Insider Buying and Selling at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of the company’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 value of $748,572.97. Following the sale, the senior vice president now owns 106,114 shares in the company, valued at $3,086,856.26. This represents a 19.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the transaction, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This represents a 21.82 % 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.

Analysts Set New Price Targets

Several research analysts have commented on CTRA shares. Raymond James reduced their price objective on Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Williams Trading set a $37.00 price objective on Coterra Energy in a report on Wednesday, March 5th. Barclays upped their price objective on shares of Coterra Energy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 18th. JPMorgan Chase & Co. reduced their price target 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. Finally, Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and increased their price objective for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $34.15.

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.