By otakuyassine3@gmail.com 
Korea Investment CORP grew its holdings in shares of Coterra Energy Inc. (NYSE:CTRA – Free Report) by 88.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 623,516 shares of the company’s stock after buying an additional 291,809 shares during the quarter. Korea Investment CORP owned 0.08% of Coterra Energy worth $15,925,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Coterra Energy by 0.9% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 734,059 shares of the company’s stock worth $18,748,000 after buying an additional 6,734 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Coterra Energy by 15.8% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 29,864 shares of the company’s stock valued at $763,000 after purchasing an additional 4,070 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Coterra Energy by 53.7% during the fourth quarter. Prudential Financial Inc. now owns 806,426 shares of the company’s stock valued at $20,596,000 after purchasing an additional 281,817 shares in the last quarter. Congress Wealth Management LLC DE boosted its holdings in Coterra Energy by 15.5% during the fourth quarter. Congress Wealth Management LLC DE now owns 42,076 shares of the company’s stock worth $1,075,000 after purchasing an additional 5,649 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in Coterra Energy by 63.5% during the fourth quarter. LPL Financial LLC now owns 664,401 shares of the company’s stock worth $16,969,000 after purchasing an additional 258,114 shares during the last quarter. 87.92% of the stock is owned by institutional investors.
Insider Buying and Selling at Coterra Energy
In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy 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 in the company, valued at $3,086,856.26. The trade was a 19.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the completion of the transaction, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on the company. UBS Group boosted their target price on Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Piper Sandler upped their price objective on Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Johnson Rice raised Coterra Energy from a “hold” rating to an “accumulate” rating and raised their target price for the company from $34.00 to $37.00 in a research report on Wednesday, March 12th. 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 report on Tuesday, February 4th. Finally, The Goldman Sachs Group raised their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.35.
Get Our Latest Analysis on Coterra Energy
Coterra Energy Stock Up 0.4 %
Shares of NYSE CTRA opened at $28.65 on Monday. 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 cap of $21.89 billion, a P/E ratio of 17.26, a P/E/G ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The business has a 50-day simple moving average of $27.91 and a two-hundred day simple moving average of $26.06.
Coterra Energy Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $0.22 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.07%. Coterra Energy’s dividend payout ratio is currently 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.
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