Coterra Energy Inc. (NYSE:CTRA) Holdings Boosted by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd lifted its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 13.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,098 shares of the company's stock after purchasing an additional 11,110 shares during the quarter. UniSuper Management Pty Ltd's holdings in Coterra Energy were worth $2,378,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in Coterra Energy by 28.4% in the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company's stock worth $1,705,480,000 after acquiring an additional 15,736,247 shares in the last quarter. Holocene Advisors LP lifted its position in shares of Coterra Energy by 187.2% during the 3rd quarter. Holocene Advisors LP now owns 4,533,269 shares of the company's stock valued at $108,572,000 after acquiring an additional 2,954,675 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Coterra Energy during the 4th quarter worth approximately $61,461,000. Truist Financial Corp grew its holdings in shares of Coterra Energy by 668.0% in the 4th quarter. Truist Financial Corp now owns 1,616,660 shares of the company's stock worth $41,289,000 after acquiring an additional 1,406,170 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Coterra Energy by 5.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company's stock worth $599,356,000 after purchasing an additional 1,310,965 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Coterra Energy Trading Down 5.8 %

CTRA traded down $1.67 on Thursday, reaching $27.32. 2,011,095 shares of the company's stock were exchanged, compared to its average volume of 6,530,000. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The company's 50 day moving average is $27.90 and its 200-day moving average is $26.17. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company has a market cap of $20.88 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors 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 a positive change from Coterra Energy's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.22%. Coterra Energy's payout ratio is 58.28%.

Analyst Upgrades and Downgrades

CTRA has been the topic of several research reports. Mizuho upped their target price on Coterra Energy from $37.00 to $40.00 and gave the company an "outperform" rating in a report on Monday, December 16th. UBS Group raised their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Johnson Rice upgraded shares of Coterra Energy from a "hold" rating to an "accumulate" rating and lifted their target price for the stock from $34.00 to $37.00 in a research report on Wednesday, March 12th. Raymond James lowered their price target on shares of Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 12th. Finally, Williams Trading set a $37.00 price objective on Coterra Energy in a research report on Wednesday, March 5th. Three equities research 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $34.35.

Insider Buying and Selling

In other news, SVP Kevin William Smith sold 25,733 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was 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 $3,086,856.26. This trade represents a 19.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the transaction, the senior vice president now directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. The trade was 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 currently owned by corporate insiders.

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.