Significant Wealth Partners LLC Cuts Stock Holdings in Coterra Energy Inc. $CTRA

Significant Wealth Partners LLC reduced its position in Coterra Energy Inc. (NYSE:CTRA) by 51.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,842 shares of the company’s stock after selling 19,043 shares during the period. Coterra Energy comprises approximately 0.5% of Significant Wealth Partners LLC’s holdings, making the stock its 23rd largest position. Significant Wealth Partners LLC’s holdings in Coterra Energy were worth $470,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CTRA. Advisors Asset Management Inc. increased its holdings in Coterra Energy by 0.7% in the 3rd 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. lifted its stake in Coterra Energy by 4.2% during the 3rd quarter. KLCM Advisors Inc. now owns 9,855 shares of the company’s stock valued at $233,000 after acquiring an additional 400 shares during the period. Pinnacle Associates Ltd. lifted its stake in Coterra Energy by 2.8% during 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 period. Profund Advisors LLC boosted its holdings in shares of Coterra Energy by 1.4% during the 3rd quarter. Profund Advisors LLC now owns 30,969 shares of the company’s stock valued at $732,000 after acquiring an additional 418 shares during the last quarter. Finally, AAFMAA Wealth Management & Trust LLC boosted its holdings in shares of Coterra Energy by 1.0% during the 3rd quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company’s stock valued at $1,017,000 after acquiring an additional 429 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

Coterra Energy Stock Up 0.2%

CTRA opened at $33.98 on Friday. The firm’s 50 day simple moving average is $29.82 and its two-hundred day simple moving average is $26.66. The company has a market capitalization of $25.80 billion, a PE ratio of 14.90, a PEG ratio of 0.84 and a beta of 0.38. Coterra Energy Inc. has a 1-year low of $22.33 and a 1-year high of $34.67. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, March 11th. Coterra Energy’s payout ratio is currently 38.60%.

Analyst Ratings Changes

Several research analysts have recently weighed in on CTRA shares. Weiss Ratings raised shares of Coterra Energy from a “hold (c+)” rating to a “buy (b)” rating in a report on Monday, March 2nd. William Blair initiated coverage on shares of Coterra Energy in a report on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 target price on the stock. Susquehanna boosted their target price on shares of Coterra Energy from $32.00 to $34.00 and gave the company a “positive” rating in a research note on Tuesday, February 3rd. Mizuho increased their price target on Coterra Energy from $36.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, BMO Capital Markets raised their price target on Coterra Energy from $32.00 to $35.00 and gave the stock a “market perform” rating in a research note on Tuesday, March 3rd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.76.

About Coterra Energy

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.