National Bank of Canada FI Increases Stake in Coterra Energy Inc. (NYSE:CTRA)

National Bank of Canada FI lifted its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 62.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,387,284 shares of the company’s stock after acquiring an additional 532,907 shares during the quarter. National Bank of Canada FI owned 0.19% of Coterra Energy worth $35,431,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in Coterra Energy by 11.7% in the third quarter. FMR LLC now owns 911,700 shares of the company’s stock valued at $21,835,000 after acquiring an additional 95,539 shares during the period. Quantbot Technologies LP acquired a new position in Coterra Energy during the third quarter worth about $193,000. Glenmede Trust Co. NA lifted its position in shares of Coterra Energy by 9.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 19,045 shares of the company’s stock valued at $456,000 after acquiring an additional 1,719 shares during the period. Benjamin Edwards Inc. grew its holdings in shares of Coterra Energy by 376,945.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 90,491 shares of the company’s stock worth $2,167,000 after acquiring an additional 90,467 shares during the period. Finally, Investment Management Corp of Ontario raised its holdings in Coterra Energy by 47.1% during the third quarter. Investment Management Corp of Ontario now owns 24,659 shares of the company’s stock worth $591,000 after purchasing an additional 7,900 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on CTRA shares. Piper Sandler lifted their price target on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Williams Trading set a $37.00 price objective on Coterra Energy in a research report on Wednesday, March 5th. Barclays raised their price target on Coterra Energy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 18th. Mizuho lifted their price objective on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Finally, The Goldman Sachs Group upped their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.35.

Insider Transactions at Coterra Energy

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

Coterra Energy Trading Down 0.2 %

Shares of CTRA opened at $29.02 on Thursday. The stock’s fifty day simple moving average is $27.90 and its 200 day simple moving average is $26.17. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $22.18 billion, a P/E ratio of 17.48, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $0.22 dividend. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Thursday, March 13th. Coterra Energy’s payout ratio is currently 58.28%.

About Coterra Energy

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.