Versor Investments LP Acquires Shares of 20,300 Coterra Energy Inc. (NYSE:CTRA)

Versor Investments LP bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 20,300 shares of the company’s stock, valued at approximately $518,000.

A number of other institutional investors have also recently modified their holdings of the business. Wellington Management Group LLP grew its stake in Coterra Energy by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after acquiring an additional 15,736,247 shares during the period. Holocene Advisors LP grew its position in shares of Coterra Energy by 187.2% in the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock valued at $108,572,000 after purchasing an additional 2,954,675 shares during the period. Truist Financial Corp increased its stake in shares of Coterra Energy by 668.0% during the fourth quarter. Truist Financial Corp now owns 1,616,660 shares of the company’s stock worth $41,289,000 after purchasing an additional 1,406,170 shares in the last quarter. Weiss Asset Management LP acquired a new position in shares of Coterra Energy during the 3rd quarter worth about $28,380,000. Finally, Erste Asset Management GmbH purchased a new position in Coterra Energy in the 3rd quarter valued at about $21,555,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the transaction, the senior vice president now directly owns 77,075 shares in the company, valued at $2,016,282. This trade represents a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Jefferies Financial Group boosted their price objective on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday, February 4th. Truist Financial increased their price objective on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Raymond James lifted their target price on shares of Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Wells Fargo & Company increased their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Citigroup boosted their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Three research 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.47.

Coterra Energy Stock Performance

NYSE CTRA opened at $27.01 on Friday. The stock has a fifty day simple moving average of $27.47 and a 200-day simple moving average of $25.49. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The stock has a market cap of $20.64 billion, a PE ratio of 16.27, a P/E/G ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, March 13th. This is a boost 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 3.26%. Coterra Energy’s dividend payout ratio (DPR) is currently 58.28%.

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.