UniSuper Management Pty Ltd Raises Position in Coterra Energy Inc. (NYSE:CTRA)

UniSuper Management Pty Ltd lifted its stake in Coterra Energy Inc. (NYSE:CTRA) by 13.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 93,098 shares of the company’s stock after buying an additional 11,110 shares during the period. UniSuper Management Pty Ltd’s holdings in Coterra Energy were worth $2,378,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CTRA. City State Bank purchased a new position in Coterra Energy during the fourth quarter worth $26,000. AdvisorNet Financial Inc boosted its stake in shares of 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 period. MCF Advisors LLC grew its holdings 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 last quarter. R Squared Ltd purchased a new stake in Coterra Energy in the 4th quarter worth about $32,000. Finally, Plato Investment Management Ltd bought a new stake in Coterra Energy in the fourth quarter worth about $43,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Up 0.4 %

Shares of Coterra Energy stock opened at $28.65 on Friday. 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 company has a market cap of $21.89 billion, a P/E ratio of 17.26, a PEG ratio of 0.59 and a beta of 0.26. The firm’s 50 day moving average price is $27.91 and its 200-day moving average price is $26.04. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders 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 an increase from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.07%. Coterra Energy’s dividend payout ratio is presently 58.28%.

Insider Activity

In related news, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were 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 directly owns 106,114 shares of the company’s stock, valued at $3,086,856.26. This trade represents a 19.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the completion of the sale, the senior vice president now owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This trade represents a 21.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Mizuho increased their target price on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and boosted their target price for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. The Goldman Sachs Group raised their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Raymond James lowered their price objective on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, March 12th. Three equities 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.35.

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.