Hartree Partners LP Makes New Investment in Coterra Energy Inc. (NYSE:CTRA)

Hartree Partners LP acquired a new position in Coterra Energy Inc. (NYSE:CTRA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 220,000 shares of the company's stock, valued at approximately $5,619,000. Coterra Energy comprises approximately 2.1% of Hartree Partners LP's portfolio, making the stock its 15th biggest holding.

Other hedge funds have also modified their holdings of the company. Schroder Investment Management Group lifted its position in Coterra Energy by 18.2% in the fourth quarter. Schroder Investment Management Group now owns 11,776,525 shares of the company's stock worth $300,537,000 after buying an additional 1,809,615 shares during the last quarter. Allstate Corp purchased a new position in shares of Coterra Energy during the 4th quarter worth about $547,000. DnB Asset Management AS grew its holdings in Coterra Energy by 1.2% during the 4th quarter. DnB Asset Management AS now owns 141,423 shares of the company's stock valued at $3,612,000 after purchasing an additional 1,659 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in Coterra Energy by 16.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 104,325 shares of the company's stock worth $2,664,000 after purchasing an additional 14,894 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Coterra Energy during the fourth quarter valued at approximately $5,048,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

Coterra Energy stock traded down $1.42 during mid-day trading on Thursday, hitting $27.57. The company had a trading volume of 3,265,262 shares, compared to its average volume of 6,542,082. The company's fifty day moving average is $27.90 and its 200-day moving average is $26.17. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The company has a market capitalization of $21.07 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of 0.59 and a beta of 0.26. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

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Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $0.22 dividend. 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. This represents a $0.88 dividend on an annualized basis and a yield of 3.19%. Coterra Energy's dividend payout ratio (DPR) is currently 58.28%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CTRA. Raymond James cut their price objective on Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 12th. Jefferies Financial Group raised their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the stock a "hold" rating in a research report on Tuesday, February 4th. Williams Trading set a $37.00 price objective on Coterra Energy in a research note on Wednesday, March 5th. Barclays raised their price target on Coterra Energy from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.35.

Insider Activity at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction dated 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 sale, the senior vice president now directly owns 106,114 shares in the company, valued at $3,086,856.26. This trade represents a 19.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction 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 trade represents a 21.82 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

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.