36,884 Shares in Coterra Energy Inc. (NYSE:CTRA) Bought by Dark Forest Capital Management LP

Dark Forest Capital Management LP acquired a new position in Coterra Energy Inc. (NYSE:CTRA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 36,884 shares of the company's stock, valued at approximately $942,000.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Scotiabank reduced their price objective on shares of Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. UBS Group dropped their target price on shares of Coterra Energy from $33.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Jefferies Financial Group increased their price target on shares of Coterra Energy from $26.00 to $28.00 and gave the stock a "hold" rating in a research note on Tuesday, February 4th. Finally, Williams Trading set a $37.00 price target on Coterra Energy in a research report on Wednesday, March 5th. 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.00.

Coterra Energy Price Performance

Coterra Energy stock traded down $0.17 during mid-day trading on Tuesday, hitting $25.56. The stock had a trading volume of 1,339,352 shares, compared to its average volume of 6,185,266. The firm has a market capitalization of $19.53 billion, a P/E ratio of 15.38, a P/E/G ratio of 0.59 and a beta of 0.47. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The firm's 50 day moving average is $26.84 and its 200 day moving average is $26.37. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $0.22 dividend. The ex-dividend date was Thursday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.44%. This is an increase from Coterra Energy's previous quarterly dividend of $0.21. Coterra Energy's dividend payout ratio is currently 58.28%.

Insider Transactions at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of the business's stock in a transaction 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 transaction, the senior vice president now directly owns 126,770 shares in the company, valued at $3,374,617.40. The trade was a 21.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the sale, the senior vice president now 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company's stock.

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.