Nemes Rush Group LLC Makes New $48,000 Investment in Coterra Energy Inc. (NYSE:CTRA)

Nemes Rush Group LLC acquired a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,876 shares of the company’s stock, valued at approximately $48,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. FMR LLC lifted its position in Coterra Energy by 11.7% during the 3rd quarter. FMR LLC now owns 911,700 shares of the company’s stock worth $21,835,000 after acquiring an additional 95,539 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Coterra Energy during the third quarter worth about $193,000. Glenmede Trust Co. NA boosted its position in Coterra Energy by 9.9% in the third quarter. Glenmede Trust Co. NA now owns 19,045 shares of the company’s stock valued at $456,000 after buying an additional 1,719 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in Coterra Energy by 376,945.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 90,491 shares of the company’s stock worth $2,167,000 after buying an additional 90,467 shares during the period. Finally, Investment Management Corp of Ontario raised its position in Coterra Energy by 47.1% during the 3rd quarter. Investment Management Corp of Ontario now owns 24,659 shares of the company’s stock worth $591,000 after buying an additional 7,900 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

Shares of NYSE:CTRA opened at $29.02 on Thursday. 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 Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The firm has a market capitalization of $22.18 billion, a PE ratio of 17.48, a P/E/G ratio of 0.59 and a beta of 0.26. The business’s 50 day moving average price is $27.90 and its 200-day moving average price is $26.17.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $0.22 per share. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.03%. Coterra Energy’s dividend payout ratio is presently 58.28%.

Insider Activity

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the business’s stock in a transaction 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 transaction, the senior vice president now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the sale, the senior vice president now 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

CTRA has been the topic of a number of research reports. Mizuho increased their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Piper Sandler raised their target price on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Morgan Stanley decreased their price target 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. Williams Trading set a $37.00 price objective on shares of Coterra Energy in a research note on Wednesday, March 5th. Finally, UBS Group boosted their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and an average 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.