Envestnet Portfolio Solutions Inc. Boosts Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Envestnet Portfolio Solutions Inc. grew its stake in Coterra Energy Inc. (NYSE:CTRA) by 39.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 148,867 shares of the company’s stock after purchasing an additional 42,236 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Coterra Energy were worth $3,802,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Private Trust Co. NA increased its position in shares of 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 in the last quarter. CENTRAL TRUST Co increased its position in Coterra Energy by 1.8% during the fourth quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock worth $559,000 after purchasing an additional 389 shares during the last quarter. Arkadios Wealth Advisors raised its position in shares of Coterra Energy by 3.8% during 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 period. Blue Trust Inc. lifted its stake in shares of 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 purchasing an additional 420 shares during the last quarter. Finally, New York Life Investment Management LLC increased its position in shares of 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 valued at $2,543,000 after acquiring an additional 421 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on CTRA. The Goldman Sachs Group lifted their price objective on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Piper Sandler upped their target price on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Mizuho lifted their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Barclays upped their price objective on Coterra Energy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Jefferies Financial Group increased their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.14.

Coterra Energy Stock Up 2.0 %

Shares of NYSE:CTRA opened at $28.74 on Wednesday. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The firm’s 50-day simple moving average is $27.84 and its 200-day simple moving average is $25.74. The company has a market cap of $21.96 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 0.59 and a beta of 0.26. 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 Increases Dividend

The firm also recently disclosed 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 is a boost from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, March 13th. This represents a $0.88 annualized dividend and a yield of 3.06%. Coterra Energy’s dividend payout ratio is presently 58.28%.

Insiders Place Their Bets

In related news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy 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 completion of the transaction, the senior vice president now directly owns 126,770 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through this link. Insiders own 1.70% of the company’s stock.

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.