Carlson Capital L.P. Takes Position in Coterra Energy Inc. (NYSE:CTRA)

Carlson Capital L.P. purchased a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,900 shares of the company’s stock, valued at approximately $432,000. Coterra Energy comprises about 0.3% of Carlson Capital L.P.’s investment portfolio, making the stock its 28th biggest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. CENTRAL TRUST Co raised its holdings in Coterra Energy by 1.8% in the fourth quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock worth $559,000 after purchasing an additional 389 shares during the period. Arkadios Wealth Advisors raised its holdings in Coterra Energy by 3.8% in the fourth quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock worth $288,000 after purchasing an additional 413 shares during the period. Blue Trust Inc. raised its holdings in Coterra Energy by 5.8% in the fourth quarter. Blue Trust Inc. now owns 7,620 shares of the company’s stock worth $182,000 after purchasing an additional 420 shares during the period. Deseret Mutual Benefit Administrators raised its holdings in Coterra Energy by 33.2% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company’s stock worth $44,000 after purchasing an additional 429 shares during the period. Finally, V Square Quantitative Management LLC raised its holdings in Coterra Energy by 3.5% in the fourth quarter. V Square Quantitative Management LLC now owns 13,137 shares of the company’s stock worth $336,000 after purchasing an additional 440 shares during the period. 87.92% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the completion of the transaction, the senior vice president now owns 77,075 shares of the company’s stock, valued at $2,016,282. This trade represents a 27.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CTRA. Jefferies Financial Group increased their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a report on Tuesday, February 4th. Mizuho increased their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Citigroup raised their price objective on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Raymond James raised their price objective on shares of Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Finally, Piper Sandler raised their price objective on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.47.

Coterra Energy Stock Down 1.9 %

Shares of CTRA stock opened at $26.87 on Thursday. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The firm’s fifty day moving average price is $27.29 and its two-hundred day moving average price is $25.45. The firm has a market capitalization of $19.79 billion, a P/E ratio of 16.18, a PEG ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Thursday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio (DPR) is 50.60%.

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.