Sterling Capital Management LLC Raises Stake in Coterra Energy Inc. (NYSE:CTRA)

Sterling Capital Management LLC boosted its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 5,744.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,661,696 shares of the company's stock after purchasing an additional 3,599,042 shares during the period. Coterra Energy comprises approximately 1.3% of Sterling Capital Management LLC's investment portfolio, making the stock its 20th biggest position. Sterling Capital Management LLC owned approximately 0.50% of Coterra Energy worth $93,520,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTRA. City State Bank bought a new stake in Coterra Energy during the fourth quarter valued at $26,000. AdvisorNet Financial Inc increased its holdings in 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 purchasing an additional 744 shares in the last quarter. MCF Advisors LLC lifted its stake in Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company's stock valued at $32,000 after buying an additional 869 shares during the period. R Squared Ltd bought a new position in shares of Coterra Energy during the 4th quarter worth approximately $32,000. Finally, Plato Investment Management Ltd bought a new position in shares of Coterra Energy during the 4th quarter worth approximately $43,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. This trade represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin William Smith sold 25,733 shares of the business's stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 106,114 shares in the company, valued at approximately $3,086,856.26. This trade represents a 19.52 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company's stock.

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Analyst Ratings Changes

A number of research firms recently issued reports on CTRA. Jefferies Financial Group boosted their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the company a "hold" rating in a research report on Tuesday, February 4th. Williams Trading set a $37.00 price objective on shares of Coterra Energy in a report on Wednesday, March 5th. Truist Financial raised their target price on Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Monday, January 13th. The Goldman Sachs Group boosted their target price on Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Finally, Mizuho increased their price target on Coterra Energy from $37.00 to $40.00 and gave the stock an "outperform" rating in a report on Monday, December 16th. Three 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $34.10.

Coterra Energy Stock Performance

Shares of NYSE CTRA traded up $0.09 during mid-day trading on Tuesday, reaching $25.31. 4,353,585 shares of the company's stock were exchanged, compared to its average volume of 6,211,772. The firm has a 50-day moving average price of $27.32 and a two-hundred day moving average price of $26.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The firm has a market capitalization of $19.34 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 0.59 and a beta of 0.47. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95.

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 given a $0.22 dividend. This is a positive change from Coterra Energy's previous quarterly dividend of $0.21. The ex-dividend date was Thursday, March 13th. This represents a $0.88 annualized dividend and a yield of 3.48%. Coterra Energy's payout ratio is currently 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.