21,419 Shares in Coterra Energy Inc. (NYSE:CTRA) Purchased by Allstate Corp

Allstate Corp bought a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) during the 4th quarter, Holdings Channel reports. The firm bought 21,419 shares of the company’s stock, valued at approximately $547,000.

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

Coterra Energy Stock Performance

NYSE:CTRA opened at $29.05 on Wednesday. The company’s 50-day moving average is $27.90 and its two-hundred day moving average is $26.15. The firm has a market capitalization of $22.19 billion, a price-to-earnings ratio of 17.50, a PEG 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 Inc. has a 1-year low of $22.30 and a 1-year high of $29.95.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, March 13th. 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 3.03%. Coterra Energy’s dividend payout ratio (DPR) is currently 58.28%.

Analyst Ratings Changes

CTRA has been the topic of a number of analyst reports. Truist Financial lifted their target price 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. Johnson Rice upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and boosted their price objective for the company from $34.00 to $37.00 in a research report on Wednesday, March 12th. Jefferies Financial Group increased their target price on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their target price on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, The Goldman Sachs Group upped their price target on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Three equities research 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.35.

Insider Activity

In related news, SVP Kevin William Smith sold 25,733 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at $3,086,856.26. The trade was a 19.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the business’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 approximately $3,374,617.40. This represents a 21.82 % 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.