State of Tennessee Department of Treasury Increases Position in Coterra Energy Inc. (NYSE:CTRA)

State of Tennessee Department of Treasury grew its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 472,799 shares of the company's stock after acquiring an additional 31,425 shares during the period. State of Tennessee Department of Treasury owned about 0.06% of Coterra Energy worth $12,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of CTRA. Barclays PLC increased its stake in Coterra Energy by 3.1% in the 3rd quarter. Barclays PLC now owns 2,147,263 shares of the company's stock worth $51,425,000 after buying an additional 64,753 shares in the last quarter. Pine Valley Investments Ltd Liability Co grew its position in shares of Coterra Energy by 37.5% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 122,725 shares of the company's stock worth $2,939,000 after purchasing an additional 33,452 shares in the last quarter. World Investment Advisors LLC purchased a new position in Coterra Energy in the 3rd quarter worth approximately $1,749,000. Wilmington Savings Fund Society FSB bought a new position in Coterra Energy in the 3rd quarter worth approximately $621,000. Finally, Blankinship & Foster LLC purchased a new stake in Coterra Energy during the 3rd quarter valued at approximately $1,420,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Michael D. Deshazer sold 35,377 shares of the 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 completion of the transaction, the senior vice president now directly owns 126,770 shares of the company's stock, valued at $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 value of $748,572.97. Following the transaction, the senior vice president now owns 106,114 shares in the company, valued at $3,086,856.26. The trade was a 19.52 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on CTRA. Jefferies Financial Group boosted their target price 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. UBS Group lowered their price target on Coterra Energy from $33.00 to $32.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Raymond James decreased their target price on Coterra Energy from $41.00 to $37.00 and set an "outperform" rating for the company in a research report on Wednesday, March 12th. Morgan Stanley set a $28.00 price target on Coterra Energy in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Three research 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 company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $34.00.

Coterra Energy Stock Down 0.7 %

Shares of CTRA traded down $0.18 during midday trading on Tuesday, reaching $25.54. The stock had a trading volume of 1,339,352 shares, compared to its average volume of 6,185,241. The company has a market cap of $19.52 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 0.59 and a beta of 0.47. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The company's fifty day simple moving average is $26.84 and its two-hundred day simple moving average is $26.37.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.45%. This is an increase from Coterra Energy's previous quarterly dividend of $0.21. The ex-dividend date was Thursday, March 13th. Coterra Energy's dividend payout ratio (DPR) is 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.