Geode Capital Management LLC Acquires 96,059 Shares of Coterra Energy Inc. (NYSE:CTRA)

Geode Capital Management LLC increased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 0.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 19,096,761 shares of the company’s stock after buying an additional 96,059 shares during the quarter. Geode Capital Management LLC’s holdings in Coterra Energy were worth $486,528,000 as of its most recent filing with the SEC.

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

Coterra Energy Price Performance

NYSE:CTRA opened at $27.41 on Friday. The stock’s fifty day moving average is $27.86 and its two-hundred day moving average is $26.17. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. 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 capitalization of $20.94 billion, a P/E ratio of 16.51, a P/E/G ratio of 0.59 and a beta of 0.47.

Coterra Energy Increases Dividend

The firm also recently disclosed 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. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Thursday, March 13th. Coterra Energy’s dividend payout ratio is currently 58.28%.

Insider Buying and Selling at Coterra Energy

In other news, SVP Kevin William Smith sold 25,733 shares of the company’s stock in a transaction dated 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 owns 106,114 shares of the company’s stock, valued at $3,086,856.26. This represents a 19.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. The trade was 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 insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on CTRA. The Goldman Sachs Group raised their price objective on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Truist Financial boosted 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 Monday, January 13th. Morgan Stanley dropped their price objective on Coterra Energy from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. Williams Trading set a $37.00 price objective on Coterra Energy in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.35.

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.