Nemes Rush Group LLC Takes $48,000 Position in Coterra Energy Inc. (NYSE:CTRA)

Nemes Rush Group LLC acquired a new position in Coterra Energy Inc. (NYSE:CTRA) in the 4th quarter, Holdings Channel reports. The firm acquired 1,876 shares of the company’s stock, valued at approximately $48,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Coterra Energy by 11.7% during the 3rd quarter. FMR LLC now owns 911,700 shares of the company’s stock worth $21,835,000 after purchasing an additional 95,539 shares during the period. Quantbot Technologies LP purchased a new position in Coterra Energy during the third quarter worth about $193,000. Glenmede Trust Co. NA increased its position in shares of Coterra Energy by 9.9% during the third quarter. Glenmede Trust Co. NA now owns 19,045 shares of the company’s stock valued at $456,000 after acquiring an additional 1,719 shares during the last quarter. Benjamin Edwards Inc. raised its stake in shares of Coterra Energy by 376,945.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 90,491 shares of the company’s stock valued at $2,167,000 after acquiring an additional 90,467 shares during the period. Finally, Investment Management Corp of Ontario raised its stake in shares of Coterra Energy by 47.1% in the 3rd quarter. Investment Management Corp of Ontario now owns 24,659 shares of the company’s stock valued at $591,000 after acquiring an additional 7,900 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insider Activity at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the sale, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at $3,086,856.26. This represents a 19.52 % 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 Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $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.

Analysts Set New Price Targets

CTRA has been the subject of a number of research analyst reports. Morgan Stanley lowered their price objective on shares of 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. Truist Financial raised their price target on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Jefferies Financial Group boosted their price objective on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, February 4th. Williams Trading set a $37.00 target price on Coterra Energy in a report on Wednesday, March 5th. Finally, Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and boosted their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. Three 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 stock. According to MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.35.

Coterra Energy Stock Down 0.2 %

Coterra Energy stock opened at $29.02 on Thursday. The stock has a market cap of $22.18 billion, a PE ratio of 17.48, a P/E/G 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. The stock’s fifty day moving average is $27.90 and its two-hundred day moving average is $26.17. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a dividend of $0.22 per share. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date was Thursday, March 13th. This represents a $0.88 annualized dividend and a yield of 3.03%. Coterra Energy’s payout ratio is presently 58.28%.

Coterra Energy 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.