Channing Capital Management LLC Decreases Stake in Coterra Energy Inc. (NYSE:CTRA)

Channing Capital Management LLC lessened its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 39.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 82,622 shares of the company’s stock after selling 53,224 shares during the quarter. Channing Capital Management LLC’s holdings in Coterra Energy were worth $2,110,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CTRA. City State Bank acquired a new position in Coterra Energy during the fourth quarter worth about $26,000. AdvisorNet Financial Inc lifted its stake in Coterra Energy by 192.2% in 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 in the last quarter. MCF Advisors LLC boosted its holdings 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 shares of Coterra Energy in the fourth quarter valued at approximately $32,000. Finally, Plato Investment Management Ltd purchased a new position in Coterra Energy during the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $26.87 on Wednesday. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The firm has a 50 day moving average of $27.68 and a two-hundred day moving average of $25.62. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $20.53 billion, a PE ratio of 16.18, a P/E/G ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CTRA shares. Piper Sandler upped their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. Morgan Stanley lifted their price target on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Wells Fargo & Company increased their price objective on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Citigroup lifted their target price on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, UBS Group increased their price target on Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Three 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.80.

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.