Foundry Partners LLC Takes Position in Coterra Energy Inc. (NYSE:CTRA)

Foundry Partners LLC bought a new stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 436,010 shares of the company's stock, valued at approximately $11,136,000. Foundry Partners LLC owned 0.06% of Coterra Energy at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC increased its holdings in shares of 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 in the third quarter valued at approximately $193,000. Glenmede Trust Co. NA raised its holdings 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 purchasing an additional 1,719 shares in the last quarter. Benjamin Edwards Inc. lifted its position in shares of Coterra Energy by 376,945.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 90,491 shares of the company's stock worth $2,167,000 after buying an additional 90,467 shares during the last quarter. Finally, Investment Management Corp of Ontario grew its position in shares of Coterra Energy by 47.1% in the 3rd 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. 87.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total transaction of $748,572.97. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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. Insiders own 1.50% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CTRA shares. Piper Sandler raised their target price on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. The Goldman Sachs Group upped their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Barclays raised their price target on Coterra Energy from $37.00 to $38.00 and gave the stock an "overweight" rating in a report on Tuesday, March 18th. 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 research report on Monday. Finally, Jefferies Financial Group increased their price target on Coterra Energy from $26.00 to $28.00 and gave the stock a "hold" rating in a report on Tuesday, February 4th. Three equities 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $34.15.

Coterra Energy Price Performance

Shares of CTRA traded down $0.55 during trading hours on Wednesday, reaching $24.05. 2,477,861 shares of the company traded hands, compared to its average volume of 6,167,127. The stock has a fifty day simple moving average of $27.59 and a 200 day simple moving average of $26.24. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The stock has a market capitalization of $18.38 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 0.59 and a beta of 0.47. 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 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 given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Thursday, March 13th. This is a positive change from Coterra Energy's previous quarterly dividend of $0.21. Coterra Energy's payout ratio is currently 58.28%.

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.