Truist Financial Corp Decreases Stock Holdings in Coterra Energy Inc. $CTRA

Truist Financial Corp reduced its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 62.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,780,682 shares of the company’s stock after selling 2,900,411 shares during the quarter. Truist Financial Corp’s holdings in Coterra Energy were worth $46,868,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. GoalVest Advisory LLC purchased a new position in shares of Coterra Energy in the fourth quarter valued at $28,000. Winnow Wealth LLC purchased a new position in shares of Coterra Energy in the third quarter valued at $29,000. City Holding Co. boosted its stake in shares of Coterra Energy by 144.4% in the fourth quarter. City Holding Co. now owns 1,222 shares of the company’s stock valued at $32,000 after purchasing an additional 722 shares during the period. Atlantic Union Bankshares Corp purchased a new position in shares of Coterra Energy in the third quarter valued at $29,000. Finally, Triumph Capital Management purchased a new position in shares of Coterra Energy in the third quarter valued at $31,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CTRA. BMO Capital Markets upped their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the company a “market perform” rating in a research note on Tuesday, March 3rd. Scotiabank upped their target price on shares of Coterra Energy from $31.00 to $32.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Siebert Williams Shank downgraded shares of Coterra Energy from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. UBS Group upped their target price on shares of Coterra Energy from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.32.

Coterra Energy Trading Down 0.6%

CTRA opened at $35.63 on Wednesday. The stock has a market capitalization of $27.06 billion, a PE ratio of 15.63, a P/E/G ratio of 0.53 and a beta of 0.32. The firm’s fifty day moving average price is $32.99 and its 200 day moving average price is $28.84. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 1.16. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $36.88.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were issued a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.88 annualized dividend and a yield of 2.5%. Coterra Energy’s dividend payout ratio is currently 38.60%.

Coterra Energy Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.