NEOS Investment Management LLC Boosts Stake in Coterra Energy Inc. (NYSE:CTRA)

NEOS Investment Management LLC lifted its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 31.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,299 shares of the company's stock after purchasing an additional 11,098 shares during the quarter. NEOS Investment Management LLC's holdings in Coterra Energy were worth $1,182,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. City State Bank bought a new stake in shares of Coterra Energy during the 4th quarter worth $26,000. AdvisorNet Financial Inc boosted its stake in Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company's stock valued at $29,000 after acquiring an additional 744 shares during the last quarter. MCF Advisors LLC increased its stake in shares of Coterra Energy by 230.5% during the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company's stock worth $32,000 after purchasing an additional 869 shares during the last quarter. R Squared Ltd bought a new stake in shares of Coterra Energy in the 4th quarter worth approximately $32,000. Finally, Plato Investment Management Ltd bought a new position in Coterra Energy during the fourth quarter valued at $43,000. 87.92% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Kevin William Smith sold 25,733 shares of the company's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the sale, the senior vice president now owns 106,114 shares of the company's stock, valued at $3,086,856.26. This represents a 19.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the company's stock in a transaction that occurred 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 owns 126,770 shares in the company, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

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Analyst Ratings Changes

Several research firms have recently weighed in on CTRA. Barclays increased their price target on Coterra Energy from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. Williams Trading set a $37.00 target price on shares of Coterra Energy in a report on Wednesday, March 5th. Raymond James lowered their price target on Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a report on Wednesday, March 12th. Piper Sandler upped their target price on Coterra Energy from $34.00 to $37.00 and gave the stock an "overweight" rating in a research note on Thursday, March 6th. Finally, Johnson Rice upgraded Coterra Energy from a "hold" rating to an "accumulate" rating and boosted their price objective for the company from $34.00 to $37.00 in a research report on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Coterra Energy presently has an average rating of "Moderate Buy" and a consensus price target of $34.35.

Coterra Energy Stock Performance

Shares of NYSE CTRA traded down $1.67 during trading on Thursday, hitting $27.32. The company had a trading volume of 2,011,095 shares, compared to its average volume of 6,082,937. The stock has a 50 day simple moving average of $27.90 and a 200 day simple moving average of $26.17. The firm has a market capitalization of $20.88 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. 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 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. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from Coterra Energy's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.22%. Coterra Energy's dividend payout ratio is 58.28%.

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'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.