30,107 Shares in Coterra Energy Inc. (NYSE:CTRA) Bought by Polymer Capital Management US LLC

Polymer Capital Management US LLC bought a new stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 30,107 shares of the company's stock, valued at approximately $769,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Envestnet Asset Management Inc. lifted its position in shares of Coterra Energy by 117.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company's stock valued at $123,036,000 after buying an additional 2,600,801 shares during the last quarter. Raymond James Financial Inc. bought a new position in Coterra Energy during the fourth quarter worth $61,461,000. Schroder Investment Management Group increased its holdings in shares of Coterra Energy by 18.2% in the fourth quarter. Schroder Investment Management Group now owns 11,776,525 shares of the company's stock valued at $300,537,000 after purchasing an additional 1,809,615 shares during the last quarter. Truist Financial Corp raised its position 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, Wellington Management Group LLP boosted its holdings in shares of Coterra Energy by 1.9% during the 4th quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company's stock worth $1,852,385,000 after buying an additional 1,318,754 shares during the period. Institutional investors own 87.92% of the company's stock.

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Insider Activity

In other news, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction that occurred on 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 $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of Coterra Energy 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 transaction, the senior vice president now directly owns 106,114 shares in the company, valued at $3,086,856.26. This represents a 19.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Piper Sandler raised 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. Johnson Rice upgraded shares of Coterra Energy from a "hold" rating to an "accumulate" rating and increased their target price for the stock from $34.00 to $37.00 in a research report on Wednesday, March 12th. Mizuho lifted 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. Williams Trading set a $37.00 price objective on Coterra Energy in a research note on Wednesday, March 5th. Finally, Truist Financial raised their price target on Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $34.20.

Coterra Energy Trading Up 1.7 %

NYSE CTRA traded up $0.43 on Friday, hitting $25.13. The company's stock had a trading volume of 7,199,604 shares, compared to its average volume of 6,217,970. The firm has a market cap of $19.20 billion, a PE ratio of 15.14, a PEG ratio of 0.59 and a beta of 0.47. The company's 50-day moving average is $27.38 and its 200 day moving average is $26.27. 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 1-year low of $22.30 and a 1-year high of $29.95.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from Coterra Energy's previous quarterly dividend of $0.21. Coterra Energy's payout ratio is 58.28%.

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.