Dean Investment Associates LLC Acquires New Shares in Coterra Energy Inc. (NYSE:CTRA)

Dean Investment Associates LLC bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA) during the 4th quarter, HoldingsChannel reports. The firm bought 90,608 shares of the company’s stock, valued at approximately $2,314,000.

A number of other large investors have also recently made changes to their positions in CTRA. Marshall Wace LLP boosted its position in shares of Coterra Energy by 78.1% in the fourth quarter. Marshall Wace LLP now owns 2,200,811 shares of the company’s stock valued at $56,209,000 after acquiring an additional 965,313 shares during the period. Evergreen Capital Management LLC boosted its holdings in Coterra Energy by 3.5% in the 4th quarter. Evergreen Capital Management LLC now owns 351,886 shares of the company’s stock valued at $8,987,000 after purchasing an additional 11,879 shares during the period. United Capital Financial Advisors LLC grew its position in shares of Coterra Energy by 11.9% during the 4th quarter. United Capital Financial Advisors LLC now owns 11,720 shares of the company’s stock valued at $299,000 after purchasing an additional 1,242 shares in the last quarter. Bridgewater Associates LP increased its holdings in shares of Coterra Energy by 55.6% in the fourth quarter. Bridgewater Associates LP now owns 2,016,402 shares of the company’s stock worth $51,499,000 after purchasing an additional 720,156 shares during the period. Finally, M Holdings Securities Inc. purchased a new stake in shares of Coterra Energy in the fourth quarter worth $398,000. 87.92% of the stock is owned by institutional investors.

Insider Transactions at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of the company’s 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 completion of the transaction, the senior vice president now owns 106,114 shares in the company, valued at $3,086,856.26. This represents a 19.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction 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 completion of the sale, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CTRA shares. Johnson Rice upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and upped their target price for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. Scotiabank lowered their target price on shares of Coterra Energy from $38.00 to $33.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Jefferies Financial Group boosted 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. The Goldman Sachs Group raised their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler upped their target price on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.05.

Coterra Energy Stock Up 0.8 %

Shares of Coterra Energy stock opened at $25.84 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The company’s 50 day moving average price is $27.19 and its 200-day moving average price is $26.30. The stock has a market capitalization of $19.74 billion, a price-to-earnings ratio of 15.57, a P/E/G ratio of 0.59 and a beta of 0.47.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.41%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date was Thursday, March 13th. Coterra Energy’s dividend payout ratio is 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.