Symmetry Investments LP Makes New Investment in Coterra Energy Inc. (NYSE:CTRA)

Symmetry Investments LP acquired a new stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 94,300 shares of the company's stock, valued at approximately $2,408,000.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CTRA shares. Susquehanna decreased their target price on shares of Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Piper Sandler lifted their target price 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 upgraded Coterra Energy from a "hold" rating to an "accumulate" rating and upped their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. Barclays lowered their price objective on shares of Coterra Energy from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. cut 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 report on Thursday, March 13th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.00.

Coterra Energy Price Performance

CTRA stock traded up $0.15 on Monday, reaching $25.52. The company had a trading volume of 1,493,562 shares, compared to its average volume of 6,190,329. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company's fifty day moving average is $26.90 and its 200 day moving average is $26.36. The company has a market cap of $19.50 billion, a P/E ratio of 15.37, 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.

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. This represents a $0.88 dividend on an annualized basis and a yield of 3.45%. 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. Coterra Energy's dividend payout ratio (DPR) is currently 58.28%.

Insider Activity at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the sale, the senior vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of the 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 transaction, the senior vice president now directly owns 126,770 shares in the company, 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. 1.70% of the stock is currently owned by corporate insiders.

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.