Disciplined Investors L.L.C. Takes $300,000 Position in Coterra Energy Inc. (NYSE:CTRA)

Disciplined Investors L.L.C. purchased a new stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 11,747 shares of the company's stock, valued at approximately $300,000.

Other hedge funds have also bought and sold shares of the company. Huntington National Bank lifted its position in Coterra Energy by 106.5% during the fourth quarter. Huntington National Bank now owns 5,067 shares of the company's stock valued at $129,000 after purchasing an additional 2,613 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Coterra Energy by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company's stock worth $486,528,000 after buying an additional 96,059 shares during the period. Nemes Rush Group LLC bought a new stake in Coterra Energy in the 4th quarter worth $48,000. National Bank of Canada FI increased its position in shares of Coterra Energy by 62.4% in the fourth quarter. National Bank of Canada FI now owns 1,387,284 shares of the company's stock valued at $35,431,000 after acquiring an additional 532,907 shares during the period. Finally, HighPoint Advisor Group LLC boosted its holdings in shares of Coterra Energy by 6.4% during the fourth quarter. HighPoint Advisor Group LLC now owns 11,085 shares of the company's stock worth $283,000 after purchasing an additional 671 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the transaction, 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 sale was disclosed in a document filed 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 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 sale, the senior vice president now directly owns 106,114 shares in the company, 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. 1.70% of the stock is owned by corporate insiders.

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Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group decreased their price objective on Coterra Energy from $37.00 to $33.00 and set a "buy" rating for the company in a report on Monday. 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. Johnson Rice raised Coterra Energy from a "hold" rating to an "accumulate" rating and upped their price target for the company from $34.00 to $37.00 in a report on Wednesday, March 12th. JPMorgan Chase & Co. decreased their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Finally, Raymond James reduced 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. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $34.15.

Coterra Energy Stock Performance

CTRA traded up $0.17 during trading on Tuesday, reaching $25.21. The company's stock had a trading volume of 2,651,564 shares, compared to its average volume of 6,151,790. The company has a market capitalization of $19.26 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 0.59 and a beta of 0.47. The company's fifty day moving average price is $27.73 and its 200-day moving average price is $26.24. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week 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 declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $0.22 dividend. The ex-dividend date was Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.49%. This is a boost from Coterra Energy's previous quarterly dividend of $0.21. Coterra Energy's dividend payout ratio is currently 58.28%.

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.