NEOS Investment Management LLC Has $1.18 Million Stock Position in Coterra Energy Inc. (NYSE:CTRA)

NEOS Investment Management LLC increased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 31.5% during the fourth quarter, HoldingsChannel reports. The fund owned 46,299 shares of the company’s stock after acquiring an additional 11,098 shares during the quarter. NEOS Investment Management LLC’s holdings in Coterra Energy were worth $1,182,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Coterra Energy by 28.4% during the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after purchasing an additional 15,736,247 shares during the period. Holocene Advisors LP grew its position in Coterra Energy by 187.2% during the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock worth $108,572,000 after buying an additional 2,954,675 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Coterra Energy during the fourth quarter worth about $61,461,000. Truist Financial Corp increased its stake in Coterra Energy by 668.0% during the fourth quarter. Truist Financial Corp now owns 1,616,660 shares of the company’s stock valued at $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% 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 acquiring an additional 1,310,965 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CTRA. Williams Trading set a $37.00 price objective on Coterra Energy in a research report on Wednesday, March 5th. 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 report on Wednesday, March 12th. Mizuho raised their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and upped their target price for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. Finally, Jefferies Financial Group raised their price target on shares of Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday, February 4th. Three 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 data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.35.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the company’s 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 transaction, the senior vice president now directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total transaction of $748,572.97. Following the sale, the senior vice president now owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. This 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.

Coterra Energy Trading Up 0.4 %

Shares of NYSE CTRA opened at $28.65 on Friday. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The company has a 50-day moving average of $27.91 and a two-hundred day moving average of $26.04. The company has a market cap of $21.89 billion, a PE ratio of 17.26, a P/E/G ratio of 0.59 and a beta of 0.26. 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 company also recently disclosed 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 was Thursday, March 13th. This represents a $0.88 annualized dividend and a yield of 3.07%. Coterra Energy’s dividend 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.