Cornercap Investment Counsel Inc. Trims Holdings in Coterra Energy Inc. (NYSE:CTRA)

Cornercap Investment Counsel Inc. reduced its position in Coterra Energy Inc. (NYSE:CTRA) by 3.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 58,412 shares of the company’s stock after selling 2,374 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Coterra Energy were worth $1,492,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the business. Allstate Corp acquired a new stake in shares of Coterra Energy in the fourth quarter valued at about $547,000. DnB Asset Management AS lifted its position in shares of Coterra Energy by 1.2% during the 4th quarter. DnB Asset Management AS now owns 141,423 shares of the company’s stock valued at $3,612,000 after acquiring an additional 1,659 shares during the period. Orion Portfolio Solutions LLC boosted its stake in shares of Coterra Energy by 16.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 104,325 shares of the company’s stock worth $2,664,000 after acquiring an additional 14,894 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Coterra Energy in the 4th quarter worth approximately $5,048,000. Finally, Weik Capital Management increased its stake in Coterra Energy by 6.5% in the 4th quarter. Weik Capital Management now owns 32,960 shares of the company’s stock valued at $842,000 after purchasing an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Up 0.4 %

NYSE:CTRA opened at $28.65 on Friday. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The business’s 50-day moving average is $27.91 and its two-hundred day moving average is $26.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The firm has a market capitalization of $21.89 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $0.22 per share. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.07%. Coterra Energy’s dividend payout ratio (DPR) is presently 58.28%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Morgan Stanley cut their price target on Coterra Energy from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Thursday. Truist Financial upped their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Monday, January 13th. 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. Williams Trading set a $37.00 target price on Coterra Energy in a research note on Wednesday, March 5th. Finally, Mizuho raised their price target on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.35.

Insiders Place Their Bets

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 106,114 shares in the company, valued at $3,086,856.26. This represents a 19.52 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

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.