OLD National Bancorp IN Sells 25,465 Shares of Coterra Energy Inc. $CTRA

OLD National Bancorp IN cut its stake in Coterra Energy Inc. (NYSE:CTRA) by 6.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 379,124 shares of the company’s stock after selling 25,465 shares during the period. OLD National Bancorp IN’s holdings in Coterra Energy were worth $9,979,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Coterra Energy by 72.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,537 shares of the company’s stock worth $141,000 after acquiring an additional 2,328 shares during the period. Jump Financial LLC grew its holdings in Coterra Energy by 64.4% during the 2nd quarter. Jump Financial LLC now owns 32,498 shares of the company’s stock worth $825,000 after acquiring an additional 12,731 shares during the last quarter. Bank of Nova Scotia increased its holdings in Coterra Energy by 31.9% in the second quarter. Bank of Nova Scotia now owns 104,835 shares of the company’s stock valued at $2,661,000 after purchasing an additional 25,343 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Coterra Energy by 9.6% in the second quarter. Daiwa Securities Group Inc. now owns 114,440 shares of the company’s stock valued at $2,904,000 after buying an additional 9,988 shares during the period. Finally, Frontier Capital Management Co. LLC increased its position in Coterra Energy by 9.4% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 12,630 shares of the company’s stock valued at $321,000 after purchasing an additional 1,085 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Stock Up 1.4%

Coterra Energy stock opened at $33.38 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 0.24. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $36.88. The firm’s fifty day moving average is $32.51 and its 200 day moving average is $28.25. The company has a market capitalization of $25.35 billion, a PE ratio of 14.61, a PEG ratio of 0.47 and a beta of 0.29.

Coterra Energy Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CTRA shares. Morgan Stanley boosted their price target on shares of Coterra Energy from $28.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, March 27th. Capital One Financial lifted their target price on shares of Coterra Energy from $37.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 25th. Raymond James Financial boosted their target price on shares of Coterra Energy from $34.00 to $41.00 in a report on Monday, March 9th. Jefferies Financial Group upped their price target on shares of Coterra Energy from $28.00 to $33.00 and gave the company a “hold” rating in a research report on Monday, April 13th. Finally, BMO Capital Markets increased their price target on Coterra Energy from $32.00 to $35.00 and gave the stock a “market perform” rating in a report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.13.

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.