Wakefield Asset Management LLLP Invests $4.18 Million in Coterra Energy Inc. (NYSE:CTRA)

Wakefield Asset Management LLLP bought a new stake in Coterra Energy Inc. (NYSE:CTRA) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 163,537 shares of the company’s stock, valued at approximately $4,177,000. Coterra Energy comprises about 1.4% of Wakefield Asset Management LLLP’s holdings, making the stock its 9th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CENTRAL TRUST Co boosted its stake 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 purchasing an additional 389 shares during the period. Arkadios Wealth Advisors increased its position in Coterra Energy by 3.8% in the 4th quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock valued at $288,000 after acquiring an additional 413 shares during the period. Blue Trust Inc. raised its stake in Coterra Energy by 5.8% during the 4th quarter. Blue Trust Inc. now owns 7,620 shares of the company’s stock valued at $182,000 after acquiring an additional 420 shares during the last quarter. New York Life Investment Management LLC lifted its position in Coterra Energy by 0.4% during the 4th 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 period. Finally, Deseret Mutual Benefit Administrators grew its stake in shares of Coterra Energy by 33.2% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company’s stock valued at $44,000 after purchasing an additional 429 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CTRA. Barclays increased their price target on Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday. UBS Group lifted their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Morgan Stanley increased their price target on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Wells Fargo & Company lifted their price objective on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Citigroup increased their target price on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.47.

Coterra Energy Stock Performance

Shares of NYSE:CTRA opened at $26.40 on Friday. The company has a market cap of $19.44 billion, a P/E ratio of 15.90, a PEG ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The business’s 50-day simple moving average is $27.35 and its 200 day simple moving average is $25.46. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.22 per share. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Thursday, March 13th. Coterra Energy’s payout ratio is presently 50.60%.

Insider Activity

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the sale, the senior vice president now owns 77,075 shares in the company, valued at $2,016,282. This trade represents a 27.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.