Flputnam Investment Management Co. Purchases 23,147 Shares of Coterra Energy Inc. (NYSE:CTRA)

Flputnam Investment Management Co. lifted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 292.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,074 shares of the company’s stock after buying an additional 23,147 shares during the quarter. Flputnam Investment Management Co.’s holdings in Coterra Energy were worth $794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CTRA. Charles Schwab Investment Management Inc. lifted its position in Coterra Energy by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after purchasing an additional 305,626 shares during the period. Czech National Bank grew its stake in Coterra Energy by 6.1% during the fourth quarter. Czech National Bank now owns 159,713 shares of the company’s stock valued at $4,079,000 after acquiring an additional 9,115 shares in the last quarter. Bourgeon Capital Management LLC grew its stake in Coterra Energy by 107.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock valued at $6,052,000 after acquiring an additional 122,487 shares in the last quarter. Hartford Funds Management Co LLC purchased a new position in Coterra Energy during the third quarter valued at $575,000. Finally, M.E. Allison & CO. Inc. purchased a new position in shares of Coterra Energy in the 4th quarter worth $217,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Truist Financial raised their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Susquehanna lifted their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Mizuho lifted their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Wells Fargo & Company boosted their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Citigroup boosted their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.47.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the business’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 sale, the senior vice president now directly owns 77,075 shares in the company, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Coterra Energy Stock Performance

Shares of CTRA opened at $27.01 on Monday. 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 stock has a market capitalization of $20.64 billion, a P/E ratio of 16.27, a P/E/G ratio of 0.59 and a beta of 0.26. The company’s fifty day moving average is $27.47 and its two-hundred day moving average is $25.50. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $0.22 dividend. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Thursday, March 13th. Coterra Energy’s payout ratio is currently 58.28%.

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.