Coterra Energy Inc. (NYSE:CTRA) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC increased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 56.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 67,858 shares of the company’s stock after acquiring an additional 24,560 shares during the period. Intech Investment Management LLC’s holdings in Coterra Energy were worth $1,733,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. City State Bank acquired a new stake in Coterra Energy in the 4th quarter worth about $26,000. AdvisorNet Financial Inc boosted its holdings in Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after buying an additional 744 shares during the last quarter. MCF Advisors LLC boosted its holdings in Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after buying an additional 869 shares during the last quarter. R Squared Ltd acquired a new stake in Coterra Energy in the 4th quarter worth about $32,000. Finally, Plato Investment Management Ltd acquired a new stake in Coterra Energy in the 4th quarter worth about $43,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the sale, the senior vice president now owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin William Smith sold 25,733 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the sale, the senior vice president now directly owns 106,114 shares in the company, valued at $3,086,856.26. This represents a 19.52 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Coterra Energy Stock Down 1.0 %

Shares of NYSE CTRA opened at $28.73 on Friday. The firm has a market cap of $21.95 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 0.59 and a beta of 0.26. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The business’s 50 day moving average is $27.94 and its two-hundred day moving average is $25.82.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $0.22 dividend. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.06%. Coterra Energy’s payout ratio is presently 58.28%.

Wall Street Analysts Forecast Growth

CTRA has been the topic of several research analyst reports. Piper Sandler lifted their price objective on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. UBS Group boosted their target price on Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Barclays boosted their target price on Coterra Energy from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday. Mizuho boosted their target price on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Finally, The Goldman Sachs Group boosted their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.14.

Coterra Energy Company 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’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.