Intech Investment Management LLC Boosts Position in Coterra Energy Inc. (NYSE:CTRA)

Intech Investment Management LLC boosted its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 56.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 67,858 shares of the company's stock after purchasing an additional 24,560 shares during the quarter. Intech Investment Management LLC's holdings in Coterra Energy were worth $1,733,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTRA. Charles Schwab Investment Management Inc. lifted its stake in shares of Coterra Energy by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company's stock worth $530,645,000 after buying an additional 305,626 shares in the last quarter. Czech National Bank lifted its stake in Coterra Energy by 6.1% in the 4th quarter. Czech National Bank now owns 159,713 shares of the company's stock worth $4,079,000 after purchasing an additional 9,115 shares in the last quarter. Bourgeon Capital Management LLC lifted its stake in Coterra Energy by 107.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company's stock worth $6,052,000 after purchasing an additional 122,487 shares in the last quarter. Hartford Funds Management Co LLC acquired a new position in shares of Coterra Energy during the 3rd quarter worth approximately $575,000. Finally, M.E. Allison & CO. Inc. purchased a new stake in shares of Coterra Energy in the fourth quarter valued at approximately $217,000. Hedge funds and other institutional investors own 87.92% of the company's stock.

Insider Activity

In related 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 value of $748,572.97. Following the sale, the senior vice president now owns 106,114 shares of the company's stock, 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 through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the business's stock in a transaction that occurred 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 transaction, 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 1.70% of the company's stock.

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Coterra Energy Stock Down 1.4 %

Shares of CTRA stock traded down $0.42 during trading on Wednesday, reaching $28.89. The company's stock had a trading volume of 7,677,319 shares, compared to its average volume of 5,882,531. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The stock's 50-day moving average price is $27.96 and its 200 day moving average price is $25.93. The company has a market capitalization of $22.08 billion, a price-to-earnings ratio of 17.40, a P/E/G ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.05%. 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%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CTRA shares. Barclays boosted their price objective on 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 report on Wednesday, February 12th. Williams Trading set a $37.00 price objective on shares of Coterra Energy in a research report on Wednesday, March 5th. Citigroup boosted their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. cut their price target on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a report 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. Based on data from MarketBeat.com, Coterra Energy currently has an average rating of "Moderate Buy" and an average target price of $34.30.

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.