Zurcher Kantonalbank Zurich Cantonalbank Reduces Holdings in Coterra Energy Inc. (NYSE:CTRA)

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 7.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 833,770 shares of the company’s stock after selling 66,068 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Coterra Energy were worth $21,294,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. City State Bank acquired a new stake in Coterra Energy during the fourth quarter worth $26,000. AdvisorNet Financial Inc grew its holdings in shares of Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after purchasing an additional 744 shares during the period. MCF Advisors LLC increased its position in shares of Coterra Energy by 230.5% during the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after purchasing an additional 869 shares during the last quarter. R Squared Ltd purchased a new stake in Coterra Energy in the 4th quarter valued at about $32,000. Finally, Plato Investment Management Ltd acquired a new position in Coterra Energy in the fourth quarter valued at about $43,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CTRA. Mizuho lifted their price target on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Barclays lifted their target price on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Citigroup upped their price target on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Raymond James raised their price target on Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, Williams Trading set a $37.00 price objective on Coterra Energy in a report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.80.

Coterra Energy Stock Up 0.4 %

Shares of Coterra Energy stock opened at $26.87 on Wednesday. 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. The company has a market capitalization of $20.53 billion, a P/E ratio of 16.18, a P/E/G ratio of 0.59 and a beta of 0.26. The company has a 50 day moving average of $27.68 and a 200 day moving average of $25.62.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.22 per share. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Thursday, March 13th. Coterra Energy’s payout ratio is 58.28%.

About Coterra Energy

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.