American Century Companies Inc. Sells 90,282 Shares of Coterra Energy Inc. (NYSE:CTRA)

American Century Companies Inc. reduced its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 1.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,947,133 shares of the company’s stock after selling 90,282 shares during the quarter. American Century Companies Inc. owned approximately 0.67% of Coterra Energy worth $126,350,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Private Trust Co. NA boosted its position in Coterra Energy by 20.0% during the fourth quarter. Private Trust Co. NA now owns 2,140 shares of the company’s stock worth $55,000 after purchasing an additional 356 shares during the period. CENTRAL TRUST Co boosted its holdings in shares of Coterra Energy by 1.8% during the 4th quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock worth $559,000 after buying an additional 389 shares during the period. Arkadios Wealth Advisors grew its stake in Coterra Energy by 3.8% in the 4th quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock valued at $288,000 after buying an additional 413 shares during the last quarter. Blue Trust Inc. raised its holdings in Coterra Energy by 5.8% in the 4th quarter. Blue Trust Inc. now owns 7,620 shares of the company’s stock valued at $182,000 after acquiring an additional 420 shares during the period. Finally, New York Life Investment Management LLC lifted its position in Coterra Energy by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 99,584 shares of the company’s stock worth $2,543,000 after acquiring an additional 421 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on CTRA. Barclays upped their target price on Coterra Energy from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, March 18th. The Goldman Sachs Group increased their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Jefferies Financial Group lifted their target price on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a report on Tuesday, February 4th. UBS Group upped their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $34.30.

Insiders Place Their Bets

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were 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 trade represents a 19.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction 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 owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This trade represents a 21.82 % 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.

Coterra Energy Trading Down 1.0 %

Shares of CTRA opened at $28.73 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The firm has a market cap of $21.95 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 0.59 and a beta of 0.26. The business’s fifty day moving average is $27.94 and its 200-day moving average is $25.85.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is currently 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.