DRW Securities LLC Increases Position in Coterra Energy Inc. (NYSE:CTRA)

DRW Securities LLC lifted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 9.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 104,062 shares of the company’s stock after buying an additional 8,923 shares during the quarter. DRW Securities LLC’s holdings in Coterra Energy were worth $2,658,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Pinnacle Holdings LLC bought a new position in Coterra Energy in the 4th quarter valued at $123,000. Martingale Asset Management L P purchased a new position in Coterra Energy in the 4th quarter worth about $249,000. Bank of Nova Scotia lifted its holdings in Coterra Energy by 513.6% during the 4th quarter. Bank of Nova Scotia now owns 582,810 shares of the company’s stock valued at $14,885,000 after buying an additional 487,829 shares in the last quarter. Invesco Ltd. boosted its position in Coterra Energy by 9.0% in the 4th quarter. Invesco Ltd. now owns 12,232,484 shares of the company’s stock valued at $312,418,000 after buying an additional 1,011,166 shares during the period. Finally, Polymer Capital Management US LLC bought a new position in Coterra Energy in the 4th quarter worth about $769,000. 87.92% of the stock is owned by institutional investors.

Coterra Energy Trading Down 1.7 %

Shares of NYSE:CTRA opened at $24.62 on Wednesday. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The stock has a market cap of $18.82 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 0.59 and a beta of 0.47. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $27.59 and a 200-day moving average price of $26.24.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.57%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date was Thursday, March 13th. Coterra Energy’s payout ratio is presently 58.28%.

Insider Transactions at Coterra Energy

In other news, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the sale, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at $3,086,856.26. This represents a 19.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. This trade represents a 21.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

CTRA has been the subject of a number of research reports. Raymond James lowered their price target on Coterra Energy from $41.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. Morgan Stanley lowered their target price on Coterra Energy from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. UBS Group lowered their price objective on shares of Coterra Energy from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Monday. Jefferies Financial Group raised their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research report on Tuesday, February 4th. Finally, Truist Financial increased their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.15.

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.