Elo Mutual Pension Insurance Co Purchases 1,891 Shares of Coterra Energy Inc. (NYSE:CTRA)

Elo Mutual Pension Insurance Co raised its position in Coterra Energy Inc. (NYSE:CTRA) by 2.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 81,307 shares of the company’s stock after buying an additional 1,891 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Coterra Energy were worth $2,077,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CTRA. Private Trust Co. NA grew its stake in shares of Coterra Energy by 20.0% in the fourth quarter. Private Trust Co. NA now owns 2,140 shares of the company’s stock worth $55,000 after purchasing an additional 356 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in Coterra Energy by 1.8% during the 4th quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock worth $559,000 after buying an additional 389 shares during the period. Arkadios Wealth Advisors increased its stake in shares of Coterra Energy by 3.8% in the fourth quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock valued at $288,000 after buying an additional 413 shares during the period. Blue Trust Inc. raised its position in shares of Coterra Energy by 5.8% during the fourth quarter. Blue Trust Inc. now owns 7,620 shares of the company’s stock worth $182,000 after acquiring an additional 420 shares during the last quarter. Finally, New York Life Investment Management LLC raised its position in shares of Coterra Energy by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 99,584 shares of the company’s stock worth $2,543,000 after acquiring an additional 421 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Piper Sandler increased their target price on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. UBS Group increased their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. dropped their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Johnson Rice upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and increased their price target for the stock from $34.00 to $37.00 in a report on Wednesday, March 12th. Finally, Jefferies Financial Group lifted their price objective on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research report 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.35.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $28.65 on Friday. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. 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 $27.91 and a 200-day moving average price of $26.04. The company has a market cap of $21.89 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $0.22 dividend. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Thursday, March 13th. Coterra Energy’s dividend payout ratio is presently 58.28%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy 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 value of $748,572.97. Following the completion of the sale, the senior vice president now owns 106,114 shares in the company, valued at approximately $3,086,856.26. This trade represents a 19.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the transaction, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. The trade was a 21.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

About Coterra Energy

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.