16,900 Shares in Coterra Energy Inc. (NYSE:CTRA) Purchased by Carlson Capital L.P.

Carlson Capital L.P. bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA) in the 4th quarter, Holdings Channel reports. The fund bought 16,900 shares of the company’s stock, valued at approximately $432,000. Coterra Energy makes up 0.3% of Carlson Capital L.P.’s portfolio, making the stock its 28th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. City State Bank bought a new stake in shares of Coterra Energy during the 4th quarter worth about $26,000. AdvisorNet Financial Inc boosted its holdings in shares of Coterra Energy by 192.2% during the 4th 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 boosted its holdings in shares of 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 buying an additional 869 shares during the period. R Squared Ltd bought a new stake in shares of Coterra Energy during the 4th quarter worth about $32,000. Finally, Deseret Mutual Benefit Administrators boosted its holdings in shares of Coterra Energy by 33.2% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company’s stock worth $44,000 after buying an additional 429 shares during the period. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Down 1.9 %

Shares of NYSE CTRA opened at $26.87 on Thursday. The firm has a market cap of $19.79 billion, a PE ratio of 16.18, a P/E/G ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The company’s fifty day simple moving average is $27.29 and its 200 day simple moving average is $25.45. 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 announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.28%. Coterra Energy’s dividend payout ratio is currently 50.60%.

Insiders Place Their Bets

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the transaction, the senior vice president now owns 77,075 shares in the company, valued at approximately $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Citigroup lifted their price objective on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Raymond James lifted their price objective on shares of Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. UBS Group lifted their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group lifted their price objective 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, Piper Sandler lifted their price objective on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.47.

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.