KLP Kapitalforvaltning AS Takes $18.84 Million Position in Coterra Energy Inc. (NYSE:CTRA)

KLP Kapitalforvaltning AS acquired a new position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 737,700 shares of the company's stock, valued at approximately $18,841,000. KLP Kapitalforvaltning AS owned 0.10% of Coterra Energy at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CTRA. City State Bank purchased a new position in shares of Coterra Energy in the fourth quarter worth about $26,000. AdvisorNet Financial Inc lifted 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 purchasing an additional 744 shares during the period. MCF Advisors LLC boosted its holdings in Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company's stock valued at $32,000 after purchasing an additional 869 shares during the last quarter. R Squared Ltd acquired a new stake in Coterra Energy during the 4th quarter worth about $32,000. Finally, Plato Investment Management Ltd purchased a new position in shares of Coterra Energy during the 4th quarter valued at about $43,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Trading Up 0.4 %

NYSE CTRA traded up $0.13 on Friday, reaching $28.65. 3,070,377 shares of the company were exchanged, compared to its average volume of 6,117,834. 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 $21.89 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The business's fifty day moving average price is $27.91 and its 200 day moving average price is $26.01. 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 company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.07%. This is an increase from Coterra Energy's previous quarterly dividend of $0.21. Coterra Energy's dividend payout ratio (DPR) is currently 58.28%.

Analysts Set New Price Targets

Several analysts recently commented on CTRA shares. JPMorgan Chase & Co. dropped their target price on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Morgan Stanley dropped their price objective on shares of Coterra Energy from $32.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Thursday. Williams Trading set a $37.00 target price on shares of Coterra Energy in a research note on Wednesday, March 5th. Johnson Rice upgraded shares of Coterra Energy from a "hold" rating to an "accumulate" rating and raised their price target for the company from $34.00 to $37.00 in a research report on Wednesday, March 12th. Finally, Truist Financial upped 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 equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Coterra Energy has an average rating of "Moderate Buy" and a consensus price target of $34.35.

Insider Activity

In other news, SVP Michael D. Deshazer sold 35,377 shares of the business's stock in a transaction dated Monday, March 10th. The stock was 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 directly owns 126,770 shares of the company's stock, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kevin William Smith sold 25,733 shares of the 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 of the company's stock, valued at approximately $3,086,856.26. This represents a 19.52 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

Coterra Energy 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.