Quantessence Capital LLC Acquires New Holdings in Coterra Energy Inc. (NYSE:CTRA)

Quantessence Capital LLC purchased a new stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 24,834 shares of the company's stock, valued at approximately $634,000.

A number of other hedge funds also recently modified their holdings of CTRA. Private Trust Co. NA raised its stake in shares of Coterra Energy by 20.0% in the fourth quarter. Private Trust Co. NA now owns 2,140 shares of the company's stock valued at $55,000 after purchasing an additional 356 shares in the last quarter. CENTRAL TRUST Co raised its stake in shares of Coterra Energy by 1.8% in the 4th quarter. CENTRAL TRUST Co now owns 21,881 shares of the company's stock valued at $559,000 after buying an additional 389 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in shares of Coterra Energy by 3.8% during the 4th quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company's stock worth $288,000 after acquiring an additional 413 shares during the period. Blue Trust Inc. boosted its position in shares of Coterra Energy by 5.8% during the 4th quarter. Blue Trust Inc. now owns 7,620 shares of the company's stock valued at $182,000 after acquiring an additional 420 shares in the last quarter. Finally, New York Life Investment Management LLC increased its stake in Coterra Energy by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 99,584 shares of the company's stock valued at $2,543,000 after acquiring an additional 421 shares during the period. Institutional investors own 87.92% of the company's stock.

Analyst Upgrades and Downgrades

CTRA has been the subject of a number of analyst reports. Johnson Rice upgraded shares of Coterra Energy from a "hold" rating to an "accumulate" rating and raised their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. UBS Group decreased their price target on Coterra Energy from $33.00 to $32.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Williams Trading set a $37.00 price target on Coterra Energy in a research report on Wednesday, March 5th. Truist Financial lifted their price objective on Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Three 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 MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $34.00.

Insider Activity

In other news, 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 value of $748,572.97. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction 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 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.

Coterra Energy Trading Down 0.4 %

Shares of CTRA traded down $0.09 during trading hours on Friday, hitting $25.37. 3,411,100 shares of the stock traded hands, compared to its average volume of 6,199,965. The business has a fifty day moving average of $26.90 and a 200-day moving average of $26.33. The firm has a market capitalization of $19.39 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 0.59 and a beta of 0.47. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Coterra Energy's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 3.47%. Coterra Energy's dividend payout ratio is presently 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.