Coterra Energy Inc. (NYSE:CTRA) Shares Purchased by Westpac Banking Corp

Westpac Banking Corp raised its stake in Coterra Energy Inc. (NYSE:CTRA) by 46.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,774 shares of the company’s stock after acquiring an additional 7,505 shares during the period. Westpac Banking Corp’s holdings in Coterra Energy were worth $607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in shares of Coterra Energy by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after acquiring an additional 15,736,247 shares during the period. Raymond James Financial Inc. acquired a new position in Coterra Energy in the fourth quarter valued at $61,461,000. Schroder Investment Management Group raised its holdings in shares of Coterra Energy by 18.2% in the fourth 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 during the last quarter. Truist Financial Corp grew its holdings in shares of Coterra Energy by 668.0% during the fourth quarter. Truist Financial Corp now owns 1,616,660 shares of the company’s stock worth $41,289,000 after buying an additional 1,406,170 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position 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 during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Insider Buying and Selling at Coterra Energy

In other 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 value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy 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 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. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CTRA. Morgan Stanley decreased their price objective 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. Raymond James lowered their price objective on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 12th. The Goldman Sachs Group boosted 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 Wednesday, February 12th. Mizuho raised their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Finally, Barclays boosted their price target on shares of Coterra Energy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 18th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.35.

Coterra Energy Stock Down 8.3 %

Coterra Energy stock opened at $25.09 on Friday. The firm has a market capitalization of $19.17 billion, a price-to-earnings 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 fifty-two week low of $22.30 and a fifty-two week high of $29.95. The stock’s fifty day moving average is $27.78 and its two-hundred day moving average is $26.19.

Coterra Energy Increases Dividend

The firm also recently announced 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 of this dividend was Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.51%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is presently 58.28%.

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.