Coterra Energy Inc. (NYSE:CTRA) Shares Purchased by AlTi Global Inc.

AlTi Global Inc. lifted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 1.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 37,927 shares of the company’s stock after buying an additional 692 shares during the quarter. AlTi Global Inc.’s holdings in Coterra Energy were worth $969,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CTRA. City State Bank acquired a new stake in Coterra Energy in the 4th quarter valued at $26,000. AdvisorNet Financial Inc boosted its position in shares of Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after buying an additional 744 shares during the period. MCF Advisors LLC grew its stake in shares of Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after buying an additional 869 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Coterra Energy during the 4th quarter valued at about $32,000. Finally, Plato Investment Management Ltd acquired a new position in Coterra Energy during the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Jefferies Financial Group lifted their target price on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research report on Tuesday, February 4th. Piper Sandler raised 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. JPMorgan Chase & Co. dropped their price objective on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Johnson Rice upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and increased their target price for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. Three investment 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.95.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $25.68 on Friday. The company has a market cap of $19.62 billion, a P/E ratio of 15.47, a PEG ratio of 0.59 and a beta of 0.33. The business has a 50 day moving average of $26.61 and a two-hundred day moving average of $26.38. 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.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.43%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is currently 58.28%.

Insider Buying and Selling

In other news, SVP Kevin William Smith sold 25,733 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 106,114 shares in the company, valued at approximately $3,086,856.26. The trade was a 19.52 % decrease in their ownership of the stock. The sale 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 firm’s stock in a transaction that occurred 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 in the company, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by company 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.