DRW Securities LLC Grows Stake in Coterra Energy Inc. (NYSE:CTRA)

DRW Securities LLC boosted its stake in Coterra Energy Inc. (NYSE:CTRA) by 9.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 104,062 shares of the company’s stock after buying an additional 8,923 shares during the quarter. DRW Securities LLC’s holdings in Coterra Energy were worth $2,658,000 at the end of the most recent reporting period.

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

Coterra Energy Stock Down 1.7 %

Shares of CTRA opened at $24.62 on Wednesday. The company’s 50-day simple moving average is $27.59 and its 200-day simple moving average is $26.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The stock has a market capitalization of $18.82 billion, a PE ratio of 14.83, a P/E/G ratio of 0.59 and a beta of 0.47.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $0.22 dividend. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.57%. Coterra Energy’s payout ratio is 58.28%.

Analyst Ratings Changes

A number of research firms have commented on CTRA. Mizuho increased their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Morgan Stanley reduced their price objective on Coterra Energy from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. Williams Trading set a $37.00 target price on Coterra Energy in a report on Wednesday, March 5th. Piper Sandler lifted their price target on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Finally, Truist Financial raised their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.15.

Insider Transactions at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction that occurred 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 transaction, the senior vice president now owns 106,114 shares in the company, valued at $3,086,856.26. The trade was a 19.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

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.