Natixis Sells 30,910 Shares of Coterra Energy Inc. (NYSE:CTRA)

Natixis decreased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 37.4% in the fourth quarter, HoldingsChannel reports. The fund owned 51,757 shares of the company’s stock after selling 30,910 shares during the quarter. Natixis’ holdings in Coterra Energy were worth $1,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Czech National Bank increased its position in Coterra Energy by 6.1% in the fourth quarter. Czech National Bank now owns 159,713 shares of the company’s stock worth $4,079,000 after buying an additional 9,115 shares in the last quarter. Bourgeon Capital Management LLC grew its stake in shares of Coterra Energy by 107.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock valued at $6,052,000 after acquiring an additional 122,487 shares during the period. M.E. Allison & CO. Inc. purchased a new stake in Coterra Energy in the 4th quarter worth approximately $217,000. Barclays PLC raised its stake in Coterra Energy by 3.1% during the 3rd quarter. Barclays PLC now owns 2,147,263 shares of the company’s stock worth $51,425,000 after acquiring an additional 64,753 shares during the period. Finally, Range Financial Group LLC purchased a new position in Coterra Energy during the fourth quarter valued at approximately $1,267,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the sale, the senior vice president now 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kevin William Smith sold 25,733 shares of the company’s stock in a transaction 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 transaction, the senior vice president now owns 106,114 shares in the company, valued at $3,086,856.26. This trade represents a 19.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on CTRA shares. Piper Sandler raised their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Barclays raised their price target on Coterra Energy from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, March 18th. JPMorgan Chase & Co. dropped their price objective on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company lifted their target price on Coterra Energy from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Williams Trading set a $37.00 price objective on shares of Coterra Energy in a research report on Wednesday, March 5th. Three 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.05.

Coterra Energy Price Performance

Coterra Energy stock opened at $25.11 on Wednesday. The company has a fifty day simple moving average of $27.03 and a 200-day simple moving average of $26.33. The firm has a market capitalization of $19.19 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 0.59 and a beta of 0.47. 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 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 was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.50%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, March 13th. Coterra Energy’s 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.