Coterra Energy Inc. (NYSE:CTRA) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,096,761 shares of the company's stock after purchasing an additional 96,059 shares during the quarter. Geode Capital Management LLC owned about 2.59% of Coterra Energy worth $486,528,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Nemes Rush Group LLC purchased a new position in shares of Coterra Energy during the 4th quarter worth $48,000. National Bank of Canada FI boosted its holdings in Coterra Energy by 62.4% in the 4th quarter. National Bank of Canada FI now owns 1,387,284 shares of the company's stock valued at $35,431,000 after purchasing an additional 532,907 shares during the last quarter. HighPoint Advisor Group LLC grew its stake in shares of Coterra Energy by 6.4% in the 4th quarter. HighPoint Advisor Group LLC now owns 11,085 shares of the company's stock valued at $283,000 after buying an additional 671 shares during the period. Wellington Management Group LLP increased its holdings in shares of Coterra Energy by 1.9% during the 4th quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company's stock worth $1,852,385,000 after buying an additional 1,318,754 shares during the last quarter. Finally, Hartree Partners LP purchased a new stake in shares of Coterra Energy during the 4th quarter valued at approximately $5,619,000. Hedge funds and other institutional investors own 87.92% of the company's stock.

Wall Street Analysts Forecast Growth

CTRA has been the subject of several recent analyst reports. Jefferies Financial Group raised their target price on Coterra Energy from $26.00 to $28.00 and gave the stock a "hold" rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. reduced their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Barclays increased their target price on shares of Coterra Energy from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. The Goldman Sachs Group boosted their price target 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. Finally, Truist Financial increased their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Three 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. According to data from MarketBeat, Coterra Energy presently has an average rating of "Moderate Buy" and an average price target of $34.15.

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Insider Activity at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the company's stock in a transaction 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 completion of the transaction, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction on Wednesday, March 19th. The stock was 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 in the company, valued at $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. 1.50% of the stock is currently owned by corporate insiders.

Coterra Energy Stock Up 5.2 %

NYSE CTRA traded up $1.29 on Wednesday, hitting $25.89. 12,184,300 shares of the stock were exchanged, compared to its average volume of 6,205,018. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The company has a 50-day moving average price of $27.50 and a 200-day moving average price of $26.25. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The company has a market cap of $19.78 billion, a PE ratio of 15.60, a PEG ratio of 0.59 and a beta of 0.47.

Coterra Energy Increases Dividend

The company 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. The ex-dividend date was Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.40%. This is an increase from Coterra Energy's previous quarterly dividend of $0.21. Coterra Energy's payout ratio is presently 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.