Coterra Energy Inc. (NYSE:CTRA) Shares Purchased by Korea Investment CORP

Korea Investment CORP raised its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 88.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 623,516 shares of the company's stock after purchasing an additional 291,809 shares during the period. Korea Investment CORP owned 0.08% of Coterra Energy worth $15,925,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Czech National Bank grew its position in Coterra Energy by 6.1% during 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 during the last quarter. Bourgeon Capital Management LLC grew its holdings in shares of Coterra Energy by 107.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company's stock valued at $6,052,000 after buying an additional 122,487 shares during the last quarter. M.E. Allison & CO. Inc. acquired a new position in shares of Coterra Energy in the 4th quarter valued at $217,000. Barclays PLC raised its stake in Coterra Energy by 3.1% in the 3rd quarter. Barclays PLC now owns 2,147,263 shares of the company's stock worth $51,425,000 after acquiring an additional 64,753 shares during the last quarter. Finally, Range Financial Group LLC acquired a new stake in Coterra Energy during the 4th quarter worth about $1,267,000. Institutional investors and hedge funds own 87.92% of the company's stock.

Insider Buying and Selling at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the 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 directly owns 126,770 shares in the company, valued at $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin William Smith sold 25,733 shares of the business's 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 owns 106,114 shares in the company, valued at $3,086,856.26. The trade was a 19.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

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Analyst Upgrades and Downgrades

CTRA has been the subject of several research analyst reports. Barclays raised 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. JPMorgan Chase & Co. reduced their price target on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Jefferies Financial Group upped their price objective on shares of Coterra Energy from $26.00 to $28.00 and gave the company a "hold" rating in a report on Tuesday, February 4th. Morgan Stanley reduced their target price on shares of Coterra Energy from $32.00 to $30.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. Finally, Mizuho boosted their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the company an "outperform" rating in a research report on Monday, December 16th. Three equities research 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 stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $34.35.

Coterra Energy Price Performance

Shares of NYSE CTRA traded down $2.27 during trading on Friday, hitting $25.09. The company had a trading volume of 19,106,288 shares, compared to its average volume of 6,165,927. The firm has a market capitalization of $19.17 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 0.59 and a beta of 0.47. The stock has a fifty day simple moving average of $27.78 and a two-hundred day simple moving average of $26.19. 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 Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $0.22 per share. This is a positive change from Coterra Energy's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.51%. The ex-dividend date was Thursday, March 13th. Coterra Energy's payout ratio is 58.28%.

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.