Coterra Energy Inc. $CTRA Shares Sold by Level Four Advisory Services LLC

Level Four Advisory Services LLC lowered its position in Coterra Energy Inc. (NYSE:CTRA) by 10.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 198,106 shares of the company’s stock after selling 22,608 shares during the period. Level Four Advisory Services LLC’s holdings in Coterra Energy were worth $4,685,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CTRA. QRG Capital Management Inc. boosted its stake in Coterra Energy by 67.0% in the 3rd quarter. QRG Capital Management Inc. now owns 143,188 shares of the company’s stock worth $3,386,000 after buying an additional 57,461 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its position in shares of Coterra Energy by 60.7% in the third quarter. Ashton Thomas Private Wealth LLC now owns 273,650 shares of the company’s stock worth $6,472,000 after acquiring an additional 103,381 shares during the last quarter. Summit Global Investments purchased a new stake in Coterra Energy in the third quarter valued at approximately $1,086,000. State of Michigan Retirement System increased its position in Coterra Energy by 5.8% during the second quarter. State of Michigan Retirement System now owns 244,459 shares of the company’s stock worth $6,204,000 after purchasing an additional 13,500 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in Coterra Energy by 36.2% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 830,392 shares of the company’s stock worth $19,639,000 after purchasing an additional 220,688 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTRA has been the subject of several research reports. Wolfe Research boosted their price objective on shares of Coterra Energy from $33.00 to $40.00 in a research note on Tuesday, February 3rd. Mizuho boosted their price target on Coterra Energy from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. Zacks Research lowered Coterra Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Scotiabank reaffirmed a “sector perform” rating and issued a $31.00 price objective on shares of Coterra Energy in a research note on Tuesday, February 3rd. Finally, Susquehanna boosted their target price on Coterra Energy from $32.00 to $34.00 and gave the stock a “positive” rating in a report on Tuesday, February 3rd. Sixteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.62.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $30.89 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.98. Coterra Energy Inc. has a 1-year low of $22.33 and a 1-year high of $32.67. The company has a market capitalization of $23.45 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 0.78 and a beta of 0.38. The business has a 50-day moving average of $28.19 and a 200-day moving average of $25.94.

Coterra Energy Announces Dividend

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

Coterra Energy Company Profile

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.