New Age Alpha Advisors LLC Purchases Shares of 197,664 Coterra Energy Inc. (NYSE:CTRA)

New Age Alpha Advisors LLC 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 197,664 shares of the company's stock, valued at approximately $5,048,000.

Other hedge funds have also recently made changes to their positions in the company. City State Bank purchased a new position in Coterra Energy during the 4th quarter worth approximately $26,000. AdvisorNet Financial Inc increased its stake in shares of Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company's stock worth $29,000 after acquiring an additional 744 shares during the period. MCF Advisors LLC raised its holdings in shares of Coterra Energy by 230.5% during the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company's stock worth $32,000 after purchasing an additional 869 shares during the last quarter. R Squared Ltd acquired a new position in Coterra Energy during the fourth quarter valued at $32,000. Finally, Plato Investment Management Ltd purchased a new stake in Coterra Energy in the fourth quarter valued at $43,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on CTRA. Johnson Rice upgraded Coterra Energy from a "hold" rating to an "accumulate" rating and upped their target price for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. Raymond James dropped their price objective on shares of Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 12th. Barclays boosted their target price on shares of Coterra Energy from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Tuesday, March 18th. Mizuho raised their price target 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. Finally, Piper Sandler upped their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $34.35.

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Coterra Energy Price Performance

CTRA traded down $0.14 during trading on Wednesday, reaching $28.93. The company's stock had a trading volume of 1,633,129 shares, compared to its average volume of 6,095,684. The company has a market cap of $22.10 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 0.59 and a beta of 0.26. The firm has a fifty day simple moving average of $27.90 and a two-hundred day simple moving average of $26.15. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. 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 Increases Dividend

The business 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. The ex-dividend date was Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.04%. This is a positive change from Coterra Energy's previous quarterly dividend of $0.21. Coterra Energy's payout ratio is 58.28%.

Insider Buying and Selling at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction that occurred on 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 owns 126,770 shares of the company's stock, valued at $3,374,617.40. This represents a 21.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the firm's stock in a transaction that occurred 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 $3,086,856.26. This represents a 19.52 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

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.