Wellington Management Group LLP Lowers Holdings in Coterra Energy Inc. $CTRA

Wellington Management Group LLP trimmed its holdings in Coterra Energy Inc. (NYSE:CTRA) by 14.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 74,645,572 shares of the company’s stock after selling 12,453,512 shares during the quarter. Wellington Management Group LLP owned approximately 0.10% of Coterra Energy worth $1,765,368,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CTRA. Advisors Asset Management Inc. lifted its holdings in shares of Coterra Energy by 0.7% in the third quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock worth $1,438,000 after buying an additional 398 shares in the last quarter. KLCM Advisors Inc. grew its stake in Coterra Energy by 4.2% during the third quarter. KLCM Advisors Inc. now owns 9,855 shares of the company’s stock valued at $233,000 after acquiring an additional 400 shares in the last quarter. Pinnacle Associates Ltd. increased its holdings in Coterra Energy by 2.8% in the 3rd quarter. Pinnacle Associates Ltd. now owns 15,336 shares of the company’s stock valued at $363,000 after acquiring an additional 415 shares during the last quarter. Profund Advisors LLC lifted its stake in Coterra Energy by 1.4% in the 3rd quarter. Profund Advisors LLC now owns 30,969 shares of the company’s stock worth $732,000 after purchasing an additional 418 shares in the last quarter. Finally, AAFMAA Wealth Management & Trust LLC lifted its stake in Coterra Energy by 1.0% in the 3rd quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company’s stock worth $1,017,000 after purchasing an additional 429 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Scotiabank restated a “sector perform” rating and set a $31.00 price objective on shares of Coterra Energy in a research report on Tuesday, February 3rd. Wolfe Research increased their price target on Coterra Energy from $33.00 to $40.00 in a research note on Tuesday, February 3rd. Raymond James Financial raised their price target on Coterra Energy from $34.00 to $41.00 in a report on Monday, March 9th. JPMorgan Chase & Co. reduced their price objective on Coterra Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. Finally, BMO Capital Markets increased their target price on Coterra Energy from $32.00 to $35.00 and gave the company a “market perform” rating in a research report on Tuesday, March 3rd. Fourteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $34.29.

Coterra Energy Stock Up 0.6%

Shares of NYSE CTRA opened at $32.18 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $32.67. The firm’s 50-day moving average price is $29.01 and its 200-day moving average price is $26.34. The stock has a market capitalization of $24.43 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 0.79 and a beta of 0.38.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, March 11th. Coterra Energy’s payout ratio is presently 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.