ExodusPoint Capital Management LP Purchases Shares of 356,939 Coterra Energy Inc. (NYSE:CTRA)

ExodusPoint Capital Management LP acquired a new position in shares of Coterra Energy Inc. (NYSE:CTRA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 356,939 shares of the company’s stock, valued at approximately $9,116,000.

Several other large investors also recently made changes to their positions in the stock. Wellington Management Group LLP increased its holdings in Coterra Energy by 28.4% during the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after purchasing an additional 15,736,247 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Coterra Energy during the fourth quarter worth about $61,461,000. Schroder Investment Management Group grew its holdings in shares of Coterra Energy by 18.2% during the fourth quarter. Schroder Investment Management Group now owns 11,776,525 shares of the company’s stock worth $300,537,000 after buying an additional 1,809,615 shares in the last quarter. Truist Financial Corp raised its position in Coterra Energy by 668.0% in 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 last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Coterra Energy by 5.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock valued at $599,356,000 after acquiring an additional 1,310,965 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CTRA shares. The Goldman Sachs Group lifted their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and lifted their price target for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. Raymond James reduced their price objective on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, March 12th. Williams Trading set a $37.00 target price on Coterra Energy in a research report on Wednesday, March 5th. Finally, Morgan Stanley reduced their price target on Coterra Energy from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.35.

Coterra Energy Stock Down 8.3 %

Shares of CTRA opened at $25.09 on Friday. The firm has a market cap of $19.17 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 0.59 and a beta of 0.47. 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 Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The firm’s 50-day simple moving average is $27.78 and its 200 day simple moving average is $26.19.

Coterra Energy Increases Dividend

The company also recently declared 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. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.51%. The ex-dividend date was Thursday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is presently 58.28%.

Insider Activity at Coterra Energy

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the sale, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. The trade was a 21.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total transaction of $748,572.97. Following the transaction, the senior vice president now owns 106,114 shares in the company, valued at approximately $3,086,856.26. The trade was a 19.52 % 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 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.