Zurcher Kantonalbank Zurich Cantonalbank Sells 266,333 Shares of Coterra Energy Inc. $CTRA

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in Coterra Energy Inc. (NYSE:CTRA) by 57.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 197,408 shares of the company’s stock after selling 266,333 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Coterra Energy were worth $5,196,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. increased its holdings in Coterra Energy by 67.0% during the 3rd quarter. QRG Capital Management Inc. now owns 143,188 shares of the company’s stock worth $3,386,000 after purchasing an additional 57,461 shares in the last quarter. Summit Global Investments bought a new position in Coterra Energy during the 3rd quarter worth about $1,086,000. Ashton Thomas Private Wealth LLC increased its holdings in Coterra Energy by 60.7% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 273,650 shares of the company’s stock worth $6,472,000 after purchasing an additional 103,381 shares in the last quarter. Vanguard Group Inc. increased its holdings in Coterra Energy by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after purchasing an additional 3,781,606 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in Coterra Energy by 36.2% during the 3rd 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 in the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Down 0.4%

Coterra Energy stock opened at $33.50 on Friday. The firm has a 50-day moving average of $32.61 and a 200-day moving average of $28.36. Coterra Energy Inc. has a one year low of $22.33 and a one year high of $36.88. 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 company has a market cap of $25.44 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 0.50 and a beta of 0.29.

Coterra Energy Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CTRA shares. Scotiabank increased their target price on Coterra Energy from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Wednesday. Stephens increased their target price on Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, January 29th. Raymond James Financial increased their target price on Coterra Energy from $34.00 to $41.00 in a report on Monday, March 9th. Texas Capital cut Coterra Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Finally, Morgan Stanley increased their price objective on shares of Coterra Energy from $28.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average price target 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.