ExodusPoint Capital Management LP Purchases New Position in Coterra Energy Inc. (NYSE:CTRA)

ExodusPoint Capital Management LP bought a new position in Coterra Energy Inc. (NYSE:CTRA - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 356,939 shares of the company's stock, valued at approximately $9,116,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC increased its holdings in Coterra Energy by 11.7% during the third quarter. FMR LLC now owns 911,700 shares of the company's stock valued at $21,835,000 after buying an additional 95,539 shares during the period. Quantbot Technologies LP purchased a new position in shares of Coterra Energy in the 3rd quarter valued at approximately $193,000. Investment Management Corp of Ontario grew its holdings in shares of Coterra Energy by 47.1% during the third quarter. Investment Management Corp of Ontario now owns 24,659 shares of the company's stock valued at $591,000 after buying an additional 7,900 shares during the last quarter. Royal London Asset Management Ltd. raised its stake in shares of Coterra Energy by 17.2% in the third quarter. Royal London Asset Management Ltd. now owns 2,077,405 shares of the company's stock worth $49,754,000 after purchasing an additional 304,240 shares during the last quarter. Finally, Systematic Financial Management LP raised its position in Coterra Energy by 37.7% during the 3rd quarter. Systematic Financial Management LP now owns 115,250 shares of the company's stock worth $2,760,000 after buying an additional 31,555 shares during the last quarter. Institutional investors own 87.92% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Raymond James decreased their price objective on Coterra Energy from $41.00 to $37.00 and set an "outperform" rating for the company in a report on Wednesday, March 12th. The Goldman Sachs Group boosted their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Morgan Stanley dropped their price target on shares of 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. JPMorgan Chase & Co. reduced their target price on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, UBS Group lowered their price objective on Coterra Energy from $37.00 to $33.00 and set a "buy" rating on the stock in a report on Monday. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Coterra Energy presently has an average rating of "Moderate Buy" and an average target price of $34.15.

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Coterra Energy Stock Performance

NYSE CTRA traded down $1.39 during trading on Thursday, reaching $24.48. The company's stock had a trading volume of 2,934,659 shares, compared to its average volume of 6,192,760. 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 twelve month low of $22.30 and a twelve month high of $29.95. The business's fifty day moving average price is $27.50 and its 200-day moving average price is $26.25. The firm has a market cap of $18.70 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 0.59 and a beta of 0.47.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from Coterra Energy's previous quarterly dividend of $0.21. Coterra Energy's dividend payout ratio is currently 58.28%.

Insider Buying and Selling

In other news, SVP Kevin William Smith sold 25,733 shares of the business'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 completion of the transaction, the senior vice president now owns 106,114 shares of the company's stock, valued at $3,086,856.26. The trade was a 19.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the sale, the senior vice president now owns 126,770 shares of the company's stock, valued at $3,374,617.40. This trade represents a 21.82 % decrease in their position. The disclosure for this sale can be found here. 1.50% 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.