National Pension Service Increases Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

National Pension Service lifted its position in Coterra Energy Inc. (NYSE:CTRA) by 0.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,342,737 shares of the company’s stock after purchasing an additional 6,857 shares during the period. National Pension Service’s holdings in Coterra Energy were worth $34,294,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CTRA. Charles Schwab Investment Management Inc. raised its stake in Coterra Energy by 1.4% in 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 in the last quarter. Czech National Bank raised its stake in Coterra Energy by 6.1% in the fourth quarter. Czech National Bank now owns 159,713 shares of the company’s stock valued at $4,079,000 after purchasing an additional 9,115 shares in the last quarter. Bourgeon Capital Management LLC raised its stake in Coterra Energy by 107.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock valued at $6,052,000 after purchasing an additional 122,487 shares in the last quarter. Hartford Funds Management Co LLC purchased a new stake in Coterra Energy in the third quarter valued at approximately $575,000. Finally, M.E. Allison & CO. Inc. purchased a new stake in Coterra Energy in the fourth quarter valued at approximately $217,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Up 2.3 %

Shares of NYSE CTRA opened at $27.01 on Friday. 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 Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The firm’s fifty day moving average is $27.41 and its 200 day moving average is $25.47. The company has a market cap of $20.64 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The company 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 $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.26%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, March 13th. Coterra Energy’s payout ratio is presently 58.28%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Stephens raised their target price on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Wells Fargo & Company raised their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. UBS Group increased their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Mizuho lifted their price target on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Finally, Jefferies Financial Group lifted their price target 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. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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 transaction, the senior vice president now directly owns 77,075 shares of the company’s stock, 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 can be accessed through the SEC website. Insiders own 1.70% of the company’s stock.

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.