Swiss National Bank Sells 113,100 Shares of Coterra Energy Inc. $CTRA

Swiss National Bank trimmed its stake in Coterra Energy Inc. (NYSE:CTRA) by 4.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,199,920 shares of the company’s stock after selling 113,100 shares during the period. Swiss National Bank owned approximately 0.29% of Coterra Energy worth $52,028,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Winnow Wealth LLC bought a new position in shares of Coterra Energy during the 3rd quarter valued at approximately $29,000. Atlantic Union Bankshares Corp purchased a new stake in Coterra Energy during the 3rd quarter valued at $29,000. Tobam lifted its position in Coterra Energy by 50.9% in the second quarter. Tobam now owns 1,823 shares of the company’s stock worth $46,000 after buying an additional 615 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new position in Coterra Energy during the second quarter worth $50,000. Finally, Bogart Wealth LLC boosted its stake in Coterra Energy by 97.8% during the third quarter. Bogart Wealth LLC now owns 2,022 shares of the company’s stock worth $48,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

CTRA has been the topic of several recent analyst reports. William Blair assumed coverage on shares of Coterra Energy in a research note on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 target price on the stock. Texas Capital cut shares of Coterra Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday. JPMorgan Chase & Co. cut their price target on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, January 12th. Scotiabank reissued a “sector perform” rating and issued a $31.00 price objective on shares of Coterra Energy in a research report on Tuesday, February 3rd. Finally, Stephens raised their price objective on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. Fourteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.29.

Coterra Energy Stock Up 2.0%

Shares of Coterra Energy stock opened at $31.99 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 1.16. The stock has a market cap of $24.29 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.78 and a beta of 0.38. The firm’s 50-day moving average is $28.90 and its two-hundred day moving average is $26.28. Coterra Energy Inc. has a 1 year low of $22.33 and a 1 year high of $32.67.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th will be paid a dividend of $0.22 per share. The ex-dividend date is Wednesday, March 11th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.8%. Coterra Energy’s dividend payout ratio (DPR) is currently 38.60%.

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.