Bridgewater Associates LP Buys 720,156 Shares of Coterra Energy Inc. (NYSE:CTRA)

Bridgewater Associates LP increased its stake in Coterra Energy Inc. (NYSE:CTRA) by 55.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,016,402 shares of the company’s stock after buying an additional 720,156 shares during the quarter. Bridgewater Associates LP’s holdings in Coterra Energy were worth $51,499,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Private Trust Co. NA lifted its position in shares of Coterra Energy by 20.0% in the fourth quarter. Private Trust Co. NA now owns 2,140 shares of the company’s stock valued at $55,000 after buying an additional 356 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in Coterra Energy by 1.8% during the 4th quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock valued at $559,000 after purchasing an additional 389 shares during the last quarter. Arkadios Wealth Advisors boosted its position in Coterra Energy by 3.8% during the fourth quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock worth $288,000 after purchasing an additional 413 shares during the period. Blue Trust Inc. boosted its position in Coterra Energy by 5.8% during the fourth quarter. Blue Trust Inc. now owns 7,620 shares of the company’s stock worth $182,000 after purchasing an additional 420 shares during the period. Finally, New York Life Investment Management LLC increased its holdings in shares of Coterra Energy by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 99,584 shares of the company’s stock valued at $2,543,000 after purchasing an additional 421 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the sale, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction 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 approximately $3,086,856.26. The trade was 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 Stock Performance

NYSE CTRA opened at $25.20 on Tuesday. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The firm has a market capitalization of $19.26 billion, a price-to-earnings ratio of 15.18, a P/E/G ratio of 0.59 and a beta of 0.47. 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 firm’s 50 day simple moving average is $27.32 and its 200 day simple moving average is $26.30.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.49%. 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. Coterra Energy’s dividend payout ratio (DPR) is currently 58.28%.

Analyst Ratings Changes

Several brokerages recently commented on CTRA. Mizuho lifted their target price 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. Morgan Stanley reduced their price objective on Coterra Energy from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. Scotiabank decreased their target price on Coterra Energy from $38.00 to $33.00 and set a “sector outperform” rating on the stock in a research report on Friday. UBS Group dropped their price target on Coterra Energy from $37.00 to $33.00 and set a “buy” rating for the company in a report on Monday, April 7th. Finally, Raymond James decreased their price objective on Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Three 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 stock. Based on data from MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average target price 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.