Polymer Capital Management US LLC Makes New $769,000 Investment in Coterra Energy Inc. (NYSE:CTRA)

Polymer Capital Management US LLC acquired a new stake in Coterra Energy Inc. (NYSE:CTRA) in the 4th quarter, HoldingsChannel reports. The fund acquired 30,107 shares of the company’s stock, valued at approximately $769,000.

A number of other institutional investors have also recently made changes to their positions in CTRA. City State Bank purchased a new position in Coterra Energy in the 4th quarter valued at approximately $26,000. AdvisorNet Financial Inc raised its stake in shares of Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after acquiring an additional 744 shares in the last quarter. MCF Advisors LLC boosted its holdings in Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares during the period. R Squared Ltd acquired a new position in Coterra Energy during the 4th quarter worth $32,000. Finally, Plato Investment Management Ltd acquired a new position in Coterra Energy during the 4th quarter worth $43,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CTRA shares. Williams Trading set a $37.00 price target on Coterra Energy in a research report on Wednesday, March 5th. Jefferies Financial Group raised their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Mizuho raised their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Finally, Barclays boosted their target price 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 issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.35.

Insider Transactions at Coterra Energy

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the transaction, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 value of $748,572.97. Following the transaction, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. This trade represents a 19.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Coterra Energy Trading Down 8.3 %

Shares of Coterra Energy stock opened at $25.09 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company has a market capitalization of $19.17 billion, a P/E ratio of 15.11, a PEG ratio of 0.59 and a beta of 0.47. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The company’s fifty day moving average is $27.78 and its two-hundred day moving average is $26.23.

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 dividend of $0.22 per share. The ex-dividend date was Thursday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.51%. Coterra Energy’s dividend payout ratio is currently 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.