First Trust Advisors LP Increases Stake in Coterra Energy Inc. (NYSE:CTRA)

First Trust Advisors LP boosted its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 15.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,343,932 shares of the company's stock after purchasing an additional 310,572 shares during the quarter. First Trust Advisors LP owned approximately 0.32% of Coterra Energy worth $59,864,000 at the end of the most recent quarter.

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

Insider Activity

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the firm'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 transaction of $748,572.97. Following the completion of the transaction, the senior vice president now directly owns 106,114 shares of the company's stock, valued at approximately $3,086,856.26. This trade represents a 19.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the business's stock in a transaction 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 transaction, the senior vice president now 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 disclosure for this sale can be found here. Corporate insiders own 1.70% of the company's stock.

Coterra Energy Trading Up 1.2 %

NYSE CTRA opened at $25.11 on Wednesday. The company has a 50 day moving average price of $27.03 and a 200 day moving average price of $26.33. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The firm has a market cap of $19.19 billion, a PE ratio of 15.13, a price-to-earnings-growth 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. Investors of record on Thursday, March 13th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.50%. This is an increase from Coterra Energy's previous quarterly dividend of $0.21. The ex-dividend date was Thursday, March 13th. Coterra Energy's payout ratio is 58.28%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Truist Financial upped their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Morgan Stanley set a $28.00 target price on shares of Coterra Energy in a report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price target on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Raymond James decreased their price objective on shares of Coterra Energy from $41.00 to $37.00 and set an "outperform" rating for the company in a research note on Wednesday, March 12th. Finally, Wells Fargo & Company boosted their target price on shares of Coterra Energy from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Coterra Energy currently has an average rating of "Moderate Buy" and a consensus target price of $34.05.

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.

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