Coterra Energy Inc. (NYSE:CTRA) Stake Raised by Equity Investment Corp

Equity Investment Corp lifted its stake in Coterra Energy Inc. (NYSE:CTRA) by 10.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,738,423 shares of the company’s stock after acquiring an additional 344,625 shares during the quarter. Coterra Energy makes up 2.2% of Equity Investment Corp’s portfolio, making the stock its 24th biggest holding. Equity Investment Corp owned 0.51% of Coterra Energy worth $95,479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. Carlson Capital L.P. bought a new position in shares of Coterra Energy in the 4th quarter valued at approximately $432,000. Checchi Capital Advisers LLC raised its stake in shares of Coterra Energy by 7.9% in the fourth quarter. Checchi Capital Advisers LLC now owns 11,311 shares of the company’s stock valued at $289,000 after purchasing an additional 824 shares in the last quarter. National Pension Service lifted its holdings in shares of Coterra Energy by 0.5% during the 4th quarter. National Pension Service now owns 1,342,737 shares of the company’s stock worth $34,294,000 after acquiring an additional 6,857 shares during the period. Argonautica Private Wealth Management Inc. boosted its holdings in Coterra Energy by 5.7% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 11,805 shares of the company’s stock valued at $302,000 after purchasing an additional 632 shares in the last quarter. Finally, Illinois Municipal Retirement Fund grew its position in Coterra Energy by 20.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 441,863 shares of the company’s stock valued at $11,285,000 after acquiring an additional 76,509 shares during the period. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

Coterra Energy stock opened at $26.87 on Thursday. The company has a market capitalization of $19.79 billion, a PE ratio of 16.18, 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. The firm has a fifty day simple moving average of $27.29 and a two-hundred day simple moving average of $25.45. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $0.22 dividend. The ex-dividend date is Thursday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.28%. Coterra Energy’s dividend payout ratio (DPR) is 50.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Jefferies Financial Group increased their price target on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research report on Tuesday, February 4th. Raymond James increased their price target on shares of Coterra Energy from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group increased their price target on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Mizuho lifted their price target on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Finally, Morgan Stanley upped their target price on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.47.

Insider Buying and Selling

In other news, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the sale, the senior vice president now owns 77,075 shares of the company’s stock, valued at $2,016,282. This represents a 27.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is owned by insiders.

Coterra Energy 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.