Johnson Investment Counsel Inc. Buys 8,381 Shares of Coterra Energy Inc. (NYSE:CTRA)

Johnson Investment Counsel Inc. raised its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 68.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,694 shares of the company’s stock after buying an additional 8,381 shares during the period. Johnson Investment Counsel Inc.’s holdings in Coterra Energy were worth $524,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CTRA. Raymond James Financial Services Advisors Inc. bought a new position in shares of Coterra Energy in the first quarter worth about $1,267,000. D.A. Davidson & CO. bought a new position in shares of Coterra Energy in the first quarter worth about $305,000. Yousif Capital Management LLC bought a new position in shares of Coterra Energy in the first quarter worth about $3,011,000. Raymond James Trust N.A. bought a new position in shares of Coterra Energy in the first quarter worth about $400,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in shares of Coterra Energy in the first quarter worth about $3,218,000. 90.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Citigroup boosted their price target on Coterra Energy from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, September 20th. Truist Financial boosted their price target on Coterra Energy from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. Bank of America boosted their price target on Coterra Energy from $32.00 to $34.00 in a research note on Wednesday, September 27th. Piper Sandler upgraded Coterra Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $30.00 to $35.00 in a research note on Monday, August 14th. Finally, Susquehanna lifted their price objective on Coterra Energy from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, October 18th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.93.

Coterra Energy Trading Down 0.2 %

Shares of Coterra Energy stock opened at $26.69 on Tuesday. The firm has a 50-day moving average of $27.57 and a 200-day moving average of $26.59. Coterra Energy Inc. has a 52-week low of $22.25 and a 52-week high of $29.89. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.01 and a current ratio of 1.04. The stock has a market cap of $20.08 billion, a PE ratio of 9.17, a PEG ratio of 0.22 and a beta of 0.34.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Wednesday, November 15th. Coterra Energy’s dividend payout ratio is currently 27.49%.

Insider Activity

In other news, Director Dan O. Dinges sold 68,275 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $27.22, for a total value of $1,858,445.50. Following the completion of the transaction, the director now owns 3,152,392 shares of the company’s stock, valued at $85,808,110.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Dan O. Dinges sold 68,275 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $27.22, for a total value of $1,858,445.50. Following the completion of the transaction, the director now owns 3,152,392 shares of the company’s stock, valued at $85,808,110.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dan O. Dinges sold 400,000 shares of the stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $26.60, for a total transaction of $10,640,000.00. Following the sale, the director now directly owns 3,302,392 shares of the company’s stock, valued at approximately $87,843,627.20. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Coterra Energy Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration and production of oil, natural gas, and natural gas liquids in the United States. The company primarily focuses on the Marcellus Shale with approximately 183,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.