Polymer Capital Management US LLC Makes New Investment in Coterra Energy Inc. (NYSE:CTRA)

Polymer Capital Management US 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 30,107 shares of the company’s stock, valued at approximately $769,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. City State Bank purchased a new position in Coterra Energy during the 4th quarter worth approximately $26,000. AdvisorNet Financial Inc raised its holdings in shares of Coterra Energy by 192.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after purchasing an additional 744 shares during the last quarter. MCF Advisors LLC lifted its position in Coterra Energy by 230.5% during the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares during the period. R Squared Ltd purchased a new stake in Coterra Energy in the fourth quarter valued at $32,000. Finally, Plato Investment Management Ltd acquired a new stake in Coterra Energy during the 4th quarter worth about $43,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CTRA shares. Morgan Stanley lowered their target price on Coterra Energy from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Jefferies Financial Group upped their price objective on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research report on Tuesday, February 4th. Mizuho lifted their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Piper Sandler increased their price target on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Finally, Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and raised their price target for the company from $34.00 to $37.00 in a research report on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.35.

Insiders Place Their Bets

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction dated 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 directly owns 126,770 shares of the company’s stock, valued at $3,374,617.40. The trade was a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. This trade represents 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 Price Performance

Shares of NYSE CTRA opened at $25.09 on Monday. The firm has a 50-day simple moving average of $27.78 and a 200-day simple moving average of $26.23. 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 stock has a market capitalization of $19.17 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 0.59 and a beta of 0.47. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.22 dividend. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date was Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.51%. Coterra Energy’s dividend payout ratio is presently 58.28%.

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.