Bessemer Group Inc. Has $1.48 Million Stake in Coterra Energy Inc. (NYSE:CTRA)

Bessemer Group Inc. lifted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 8.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,967 shares of the company’s stock after purchasing an additional 4,617 shares during the quarter. Bessemer Group Inc.’s holdings in Coterra Energy were worth $1,481,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. City State Bank bought a new stake in Coterra Energy during the 4th quarter worth approximately $26,000. AdvisorNet Financial Inc raised its holdings in shares of Coterra Energy by 192.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after acquiring an additional 744 shares during the period. MCF Advisors LLC lifted its position in Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after acquiring an additional 869 shares in the last quarter. R Squared Ltd bought a new stake in Coterra Energy in the 4th quarter valued at $32,000. Finally, Plato Investment Management Ltd acquired a new position in Coterra Energy in the 4th quarter worth $43,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Up 1.7 %

CTRA stock opened at $25.13 on Monday. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The stock has a market cap of $19.20 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 0.59 and a beta of 0.47. The company has a fifty day moving average price of $27.38 and a two-hundred day moving average price of $26.29. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.22 dividend. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend was Thursday, March 13th. Coterra Energy’s dividend payout ratio is currently 58.28%.

Insiders Place Their Bets

In related news, SVP Michael D. Deshazer sold 35,377 shares of the firm’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 of the company’s stock, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $748,572.97. Following the completion of the sale, the senior vice president now 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 disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

CTRA has been the topic of several recent research reports. Williams Trading set a $37.00 price target on Coterra Energy in a research note on Wednesday, March 5th. UBS Group cut their target price on Coterra Energy from $37.00 to $33.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Scotiabank decreased their price target on shares of Coterra Energy from $38.00 to $33.00 and set a “sector outperform” rating for the company in a research note on Friday. Truist Financial boosted their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Jefferies Financial Group raised their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus price target of $34.20.

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.