Symmetry Investments LP Acquires Shares of 94,300 Coterra Energy Inc. (NYSE:CTRA)

Symmetry Investments LP acquired a new stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 94,300 shares of the company's stock, valued at approximately $2,408,000.

Several other large investors have also made changes to their positions in CTRA. Wellington Management Group LLP lifted its holdings in Coterra Energy by 1.9% during the fourth quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company's stock valued at $1,852,385,000 after purchasing an additional 1,318,754 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Coterra Energy by 5.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company's stock valued at $599,356,000 after buying an additional 1,310,965 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Coterra Energy by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company's stock worth $486,528,000 after buying an additional 96,059 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Coterra Energy by 5.0% in the 4th quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company's stock worth $454,834,000 after buying an additional 845,609 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Coterra Energy by 9.0% during the 4th quarter. Invesco Ltd. now owns 12,232,484 shares of the company's stock worth $312,418,000 after buying an additional 1,011,166 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Up 1.2 %

Shares of NYSE CTRA opened at $25.11 on Wednesday. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The business's 50 day moving average is $27.03 and its two-hundred day moving average is $26.33. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The firm has a market cap of $19.19 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 0.59 and a beta of 0.47.

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 paid a dividend of $0.22 per share. 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. This represents a $0.88 dividend on an annualized basis and a yield of 3.50%. Coterra Energy's dividend payout ratio is 58.28%.

Analysts Set New Price Targets

Several analysts recently commented on CTRA shares. Scotiabank dropped their price target on Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. UBS Group reduced 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 report on Thursday, April 17th. Barclays raised their price target on shares of Coterra Energy from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. Piper Sandler increased their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the company an "overweight" rating in a report on Thursday, March 6th. Finally, Susquehanna lowered their target price on Coterra Energy from $34.00 to $32.00 and set a "positive" rating on the stock in a report on Tuesday. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.05.

Insiders Place Their Bets

In other news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the transaction, the senior vice president now 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of the business's stock in a transaction dated 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 approximately $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

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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