Wells Fargo & Company MN Sells 77,580 Shares of Coterra Energy Inc. (NYSE:CTRA)

Wells Fargo & Company MN lessened its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,950,562 shares of the company’s stock after selling 77,580 shares during the period. Wells Fargo & Company MN’s holdings in Coterra Energy were worth $49,778,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Balentine LLC lifted its holdings in shares of Coterra Energy by 8.4% during the 4th quarter. Balentine LLC now owns 11,863 shares of the company’s stock worth $303,000 after acquiring an additional 917 shares during the period. Gladstone Institutional Advisory LLC lifted its holdings in shares of Coterra Energy by 7.8% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 8,509 shares of the company’s stock worth $217,000 after acquiring an additional 615 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Coterra Energy by 13.0% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 30,262 shares of the company’s stock worth $772,000 after acquiring an additional 3,481 shares during the period. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Coterra Energy by 273.3% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 73,615 shares of the company’s stock worth $1,879,000 after acquiring an additional 53,896 shares during the period. Finally, ING Groep NV lifted its holdings in shares of Coterra Energy by 47.3% during the 4th quarter. ING Groep NV now owns 706,630 shares of the company’s stock worth $18,033,000 after acquiring an additional 226,885 shares during the period. Institutional investors own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CTRA shares. Truist Financial upgraded shares of Coterra Energy from a “hold” rating to a “buy” rating and upped their price objective for the stock from $27.00 to $35.00 in a research report on Thursday, May 16th. Scotiabank upped their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Susquehanna upped their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “positive” rating in a research report on Tuesday, May 7th. Barclays started coverage on shares of Coterra Energy in a research report on Wednesday, April 10th. They set an “overweight” rating and a $36.00 price objective for the company. Finally, Stifel Nicolaus lowered their price objective on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and an average target price of $33.73.

Insider Buying and Selling

In related news, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the transaction, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the transaction, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the transaction, the chief accounting officer now directly owns 176,758 shares in the company, valued at $4,783,071.48. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Coterra Energy Trading Up 0.2 %

NYSE:CTRA opened at $27.13 on Friday. The firm’s fifty day moving average is $27.81 and its 200-day moving average is $26.37. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.49. Coterra Energy Inc. has a 52 week low of $22.91 and a 52 week high of $29.89. The firm has a market cap of $20.19 billion, a P/E ratio of 15.68 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09. Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.38 billion. Equities analysts expect that Coterra Energy Inc. will post 1.82 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Wednesday, May 15th. Coterra Energy’s dividend payout ratio is currently 48.55%.

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.