New Age Alpha Advisors LLC Purchases Shares of 197,664 Coterra Energy Inc. (NYSE:CTRA)

New Age Alpha Advisors LLC acquired a new position in Coterra Energy Inc. (NYSE:CTRA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 197,664 shares of the company’s stock, valued at approximately $5,048,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. City State Bank purchased a new stake in Coterra Energy in the fourth quarter worth about $26,000. AdvisorNet Financial Inc increased its holdings in Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after acquiring an additional 744 shares in the last quarter. MCF Advisors LLC raised its stake in Coterra Energy by 230.5% during the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after acquiring an additional 869 shares during the period. R Squared Ltd purchased a new position in Coterra Energy during the fourth quarter valued at approximately $32,000. Finally, Plato Investment Management Ltd bought a new position in shares of Coterra Energy in the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the company’s 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 transaction, the senior vice president now directly owns 106,114 shares in the company, valued at $3,086,856.26. This represents a 19.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the sale, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This represents a 21.82 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Coterra Energy Stock Performance

Coterra Energy stock opened at $28.65 on Friday. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The company’s 50-day moving average is $27.91 and its 200 day moving average is $26.01. The firm has a market capitalization of $21.89 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Coterra Energy Increases Dividend

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

Analysts Set New Price Targets

Several analysts have recently commented on CTRA shares. Piper Sandler raised their price objective 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. JPMorgan Chase & Co. lowered their price objective on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. The Goldman Sachs Group increased their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Mizuho boosted their price target on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Finally, Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and increased their price objective for the company from $34.00 to $37.00 in a report on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.35.

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.