ING Groep NV Purchases 226,885 Shares of Coterra Energy Inc. (NYSE:CTRA)

ING Groep NV increased its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 47.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 706,630 shares of the company's stock after acquiring an additional 226,885 shares during the period. ING Groep NV owned about 0.09% of Coterra Energy worth $18,033,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CTRA. Charles Schwab Investment Management Inc. increased its holdings in shares of Coterra Energy by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,080,590 shares of the company's stock worth $434,980,000 after purchasing an additional 235,636 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Coterra Energy by 3.5% during the third quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company's stock valued at $431,329,000 after buying an additional 544,768 shares during the last quarter. Invesco Ltd. increased its holdings in Coterra Energy by 1.5% in the 3rd quarter. Invesco Ltd. now owns 10,723,660 shares of the company's stock worth $290,075,000 after buying an additional 161,776 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Coterra Energy by 8.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,465,383 shares of the company's stock worth $267,089,000 after buying an additional 848,519 shares during the last quarter. Finally, Northern Trust Corp raised its position in Coterra Energy by 2.3% in the 3rd quarter. Northern Trust Corp now owns 9,084,114 shares of the company's stock worth $245,725,000 after buying an additional 201,520 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

Insider Buying and Selling at Coterra Energy

In related news, CAO Todd M. Roemer sold 55,000 shares of the business's stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total value of $1,488,300.00. Following the transaction, the chief accounting officer now directly owns 176,758 shares of the company's stock, valued at approximately $4,783,071.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the sale, the vice president now directly owns 93,988 shares of the company's stock, valued at $2,449,327.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the transaction, the chief accounting officer now directly owns 176,758 shares of the company's stock, valued at $4,783,071.48. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Coterra Energy from $29.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, April 4th. UBS Group raised their target price on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a "buy" rating in a report on Friday, March 1st. Stephens reiterated an "overweight" rating and set a $39.00 target price on shares of Coterra Energy in a research note on Tuesday, January 23rd. Piper Sandler raised their price target on Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Morgan Stanley upped their price objective on Coterra Energy from $26.00 to $29.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 17th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $33.67.

Coterra Energy Stock Performance

Shares of NYSE CTRA traded up $0.18 during trading on Friday, hitting $28.19. The company had a trading volume of 4,385,155 shares, compared to its average volume of 5,782,753. The stock has a 50 day simple moving average of $27.70 and a 200 day simple moving average of $26.37. The firm has a market capitalization of $20.98 billion, a P/E ratio of 16.29 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.49. Coterra Energy Inc. has a 12 month low of $22.91 and a 12 month high of $29.89.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $0.55 by ($0.06). The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.54 billion. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. As a group, analysts anticipate that Coterra Energy Inc. will post 1.82 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.84 dividend on an annualized basis and a yield of 2.98%. Coterra Energy's payout ratio is presently 48.55%.

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.

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