Mizuho Securities USA LLC Purchases 21,876 Shares of Coterra Energy Inc. (NYSE:CTRA)

Mizuho Securities USA LLC lifted its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 45.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 69,814 shares of the company's stock after purchasing an additional 21,876 shares during the quarter. Mizuho Securities USA LLC's holdings in Coterra Energy were worth $1,783,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP lifted its stake in shares of Coterra Energy by 28.4% during the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company's stock worth $1,705,480,000 after purchasing an additional 15,736,247 shares in the last quarter. Holocene Advisors LP raised its stake in shares of Coterra Energy by 187.2% during the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company's stock valued at $108,572,000 after purchasing an additional 2,954,675 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Coterra Energy during the fourth quarter worth $61,461,000. Truist Financial Corp boosted its stake in shares of Coterra Energy by 668.0% in the fourth quarter. Truist Financial Corp now owns 1,616,660 shares of the company's stock valued at $41,289,000 after purchasing an additional 1,406,170 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Coterra Energy by 5.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company's stock valued at $599,356,000 after purchasing an additional 1,310,965 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CTRA shares. Jefferies Financial Group raised their target price on Coterra Energy from $26.00 to $28.00 and gave the company a "hold" rating in a research note on Tuesday, February 4th. Morgan Stanley reduced their target price on Coterra Energy from $32.00 to $30.00 and set an "equal weight" rating for the company in a research note on Thursday. Barclays upped their price target on shares of Coterra Energy from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. JPMorgan Chase & Co. dropped their target price 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. Finally, Piper Sandler upped their price objective on Coterra Energy from $34.00 to $37.00 and gave the company an "overweight" rating in a research note on Thursday, March 6th. Three 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.35.

Coterra Energy Stock Performance

Coterra Energy stock traded up $0.13 during trading hours 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 12 month low of $22.30 and a 12 month high of $29.95. The firm has a market cap of $21.89 billion, a price-to-earnings ratio of 17.26, a PEG 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. The stock has a 50-day moving average of $27.93 and a 200 day moving average of $25.97.

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 $0.22 dividend. The ex-dividend date 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 3.07%. Coterra Energy's dividend payout ratio (DPR) is presently 58.28%.

Insider Buying and Selling

In related news, SVP Kevin William Smith sold 25,733 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were 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 of the company's stock, valued at approximately $3,086,856.26. The trade was a 19.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction 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. This trade represents a 21.82 % 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.

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.