Coterra Energy Inc. (NYSE:CTRA) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP raised its position in Coterra Energy Inc. (NYSE:CTRA) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,528,767 shares of the company’s stock after purchasing an additional 1,318,754 shares during the quarter. Wellington Management Group LLP owned about 9.49% of Coterra Energy worth $1,852,385,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CTRA. Holocene Advisors LP grew its stake in shares of Coterra Energy by 187.2% in the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock worth $108,572,000 after purchasing an additional 2,954,675 shares in the last quarter. Raymond James Financial Inc. bought a new position in Coterra Energy in the 4th quarter valued at about $61,461,000. Schroder Investment Management Group grew its position in Coterra Energy by 18.2% in the 4th quarter. Schroder Investment Management Group now owns 11,776,525 shares of the company’s stock valued at $300,537,000 after buying an additional 1,809,615 shares in the last quarter. Truist Financial Corp increased its stake in Coterra Energy by 668.0% during the 4th quarter. Truist Financial Corp now owns 1,616,660 shares of the company’s stock valued at $41,289,000 after buying an additional 1,406,170 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Coterra Energy by 5.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock worth $599,356,000 after buying an additional 1,310,965 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CTRA. Truist Financial raised their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Raymond James lowered their price target on Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 12th. Piper Sandler upped their price objective on Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. lowered their target price on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, UBS Group boosted their price target 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. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and an average price target of $34.35.

Coterra Energy Trading Up 0.4 %

NYSE:CTRA opened at $28.65 on Monday. The stock 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 Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The stock’s 50-day moving average is $27.91 and its two-hundred day moving average is $26.06.

Coterra Energy Increases Dividend

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

Insiders Place Their Bets

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of Coterra Energy 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 sale, the senior vice president now owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. This represents a 19.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

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.