State of Tennessee Department of Treasury Acquires 31,425 Shares of Coterra Energy Inc. (NYSE:CTRA)

State of Tennessee Department of Treasury lifted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 7.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 472,799 shares of the company's stock after purchasing an additional 31,425 shares during the period. State of Tennessee Department of Treasury owned 0.06% of Coterra Energy worth $12,075,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the company's 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 transaction, 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 position. The sale was disclosed in a filing 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 value of $748,572.97. Following the sale, the senior vice president now directly 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. Company insiders own 1.70% of the company's stock.

Coterra Energy Price Performance

NYSE:CTRA opened at $25.40 on Thursday. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The firm has a market capitalization of $19.41 billion, a price-to-earnings ratio of 15.30, a P/E/G ratio of 0.59 and a beta of 0.47. The stock's 50 day moving average price is $26.99 and its two-hundred day moving average price is $26.32. 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 firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $0.22 per share. This is an increase from Coterra Energy's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.88 annualized dividend and a yield of 3.46%. Coterra Energy's dividend payout ratio (DPR) is currently 58.28%.

Analysts Set New Price Targets

CTRA has been the topic of a number of analyst reports. Williams Trading set a $37.00 price target on Coterra Energy in a research note on Wednesday, March 5th. The Goldman Sachs Group raised their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Johnson Rice raised Coterra Energy from a "hold" rating to an "accumulate" rating and upped their price target for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. Wells Fargo & Company lifted their price objective on shares of Coterra Energy from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, UBS Group lowered their target price on shares of Coterra Energy from $33.00 to $32.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Coterra Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.00.

Coterra Energy Company 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.

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