Allstate Corp Takes $547,000 Position in Coterra Energy Inc. (NYSE:CTRA)

Allstate Corp purchased a new position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 21,419 shares of the company's stock, valued at approximately $547,000.

A number of other large investors have also made changes to their positions in CTRA. D.A. Davidson & CO. boosted its position in Coterra Energy by 9.3% during the third quarter. D.A. Davidson & CO. now owns 25,767 shares of the company's stock worth $617,000 after purchasing an additional 2,202 shares in the last quarter. FMR LLC grew its stake in Coterra Energy by 11.7% in the 3rd 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 last quarter. Quantbot Technologies LP purchased a new position in Coterra Energy during the 3rd quarter valued at about $193,000. Glenmede Trust Co. NA raised its position in Coterra Energy by 9.9% during the third quarter. Glenmede Trust Co. NA now owns 19,045 shares of the company's stock worth $456,000 after acquiring an additional 1,719 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in shares of Coterra Energy in the third quarter valued at about $2,221,000. Hedge funds and other institutional investors own 87.92% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CTRA. Johnson Rice raised shares of Coterra Energy from a "hold" rating to an "accumulate" rating and raised their price objective for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. Raymond James dropped their price target on Coterra Energy from $41.00 to $37.00 and set an "outperform" rating for the company in a research report on Wednesday, March 12th. The Goldman Sachs Group upped their price objective on Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. 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, UBS Group upped their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $34.35.

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Coterra Energy Trading Down 8.3 %

Shares of Coterra Energy stock traded down $2.27 during trading hours on Friday, reaching $25.09. The stock had a trading volume of 19,106,288 shares, compared to its average volume of 6,150,893. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The firm has a 50 day simple moving average of $27.78 and a two-hundred day simple moving average of $26.23. 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 $19.17 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 0.59 and a beta of 0.47.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Coterra Energy's previous quarterly dividend of $0.21. Coterra Energy's dividend payout ratio (DPR) is currently 58.28%.

Insider Buying and Selling at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now directly owns 126,770 shares of the company's stock, valued at $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 SEC, which is accessible through this link. Also, SVP Kevin William Smith sold 25,733 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the sale, the senior vice president now owns 106,114 shares in the company, valued at approximately $3,086,856.26. This trade represents a 19.52 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

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.