Park Avenue Securities LLC Sells 16,070 Shares of Coterra Energy Inc. $CTRA

Park Avenue Securities LLC cut its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 35.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,198 shares of the company’s stock after selling 16,070 shares during the quarter. Park Avenue Securities LLC’s holdings in Coterra Energy were worth $768,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. MAI Capital Management grew its position in Coterra Energy by 212.0% during the second quarter. MAI Capital Management now owns 9,623 shares of the company’s stock worth $244,000 after buying an additional 6,539 shares in the last quarter. Franklin Resources Inc. increased its stake in Coterra Energy by 9.5% during the second quarter. Franklin Resources Inc. now owns 849,156 shares of the company’s stock valued at $21,552,000 after acquiring an additional 73,734 shares during the period. Prudential Financial Inc. raised its holdings in Coterra Energy by 7.0% in the 2nd quarter. Prudential Financial Inc. now owns 446,980 shares of the company’s stock valued at $11,344,000 after acquiring an additional 29,343 shares in the last quarter. XTX Topco Ltd raised its holdings in Coterra Energy by 37.1% in the 2nd quarter. XTX Topco Ltd now owns 50,479 shares of the company’s stock valued at $1,281,000 after acquiring an additional 13,670 shares in the last quarter. Finally, J.W. Cole Advisors Inc. lifted its position in shares of Coterra Energy by 10.1% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 16,013 shares of the company’s stock worth $406,000 after acquiring an additional 1,473 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Trading Up 1.8%

CTRA stock opened at $35.83 on Friday. Coterra Energy Inc. has a 1-year low of $22.33 and a 1-year high of $36.17. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $30.59 and its 200-day moving average is $26.95. The firm has a market cap of $27.20 billion, a P/E ratio of 15.71, a P/E/G ratio of 0.87 and a beta of 0.38.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, March 11th. Coterra Energy’s dividend payout ratio is currently 38.60%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CTRA. Barclays lifted their price objective on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, March 16th. Siebert Williams Shank cut Coterra Energy from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. Scotiabank reiterated a “sector perform” rating and set a $31.00 price target on shares of Coterra Energy in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. lowered 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. Finally, Roth Mkm set a $28.00 price objective on shares of Coterra Energy and gave the company a “neutral” rating in a research note on Tuesday, February 3rd. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.76.

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.