New York Life Investment Management LLC Purchases 421 Shares of Coterra Energy Inc. (NYSE:CTRA)

New York Life Investment Management LLC lifted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 99,584 shares of the company’s stock after purchasing an additional 421 shares during the period. New York Life Investment Management LLC’s holdings in Coterra Energy were worth $2,543,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. CENTRAL TRUST Co grew its holdings in Coterra Energy by 1.8% in the 4th quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock valued at $559,000 after buying an additional 389 shares during the last quarter. Arkadios Wealth Advisors boosted its position 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 acquiring an additional 413 shares during the period. Blue Trust Inc. grew its stake in shares of 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 acquiring an additional 420 shares during the last quarter. Deseret Mutual Benefit Administrators raised its stake in Coterra Energy by 33.2% during 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. Finally, V Square Quantitative Management LLC boosted its holdings in Coterra Energy by 3.5% in the 4th quarter. V Square Quantitative Management LLC now owns 13,137 shares of the company’s stock valued at $336,000 after purchasing an additional 440 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insider Transactions at Coterra Energy

In other news, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.70% of the company’s stock.

Coterra Energy Stock Performance

NYSE:CTRA opened at $27.01 on Monday. The stock has a market capitalization of $20.64 billion, a P/E ratio of 16.27, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. 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 has a 50 day moving average of $27.47 and a 200-day moving average of $25.50.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $0.22 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.26%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is currently 58.28%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CTRA shares. Wells Fargo & Company boosted their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Citigroup boosted their price target on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group upped their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Susquehanna lifted their price objective on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Finally, Jefferies Financial Group upped their target price on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.47.

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.