Vestcor Inc Purchases 4,533 Shares of Coterra Energy Inc. (NYSE:CTRA)

Vestcor Inc lifted its position in Coterra Energy Inc. (NYSE:CTRA) by 29.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,875 shares of the company’s stock after buying an additional 4,533 shares during the period. Vestcor Inc’s holdings in Coterra Energy were worth $508,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Coterra Energy by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after buying an additional 305,626 shares in the last quarter. Czech National Bank raised its holdings in shares of Coterra Energy by 6.1% during the fourth quarter. Czech National Bank now owns 159,713 shares of the company’s stock valued at $4,079,000 after purchasing an additional 9,115 shares during the last quarter. Bourgeon Capital Management LLC raised its holdings in shares of Coterra Energy by 107.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock valued at $6,052,000 after purchasing an additional 122,487 shares during the last quarter. Hartford Funds Management Co LLC purchased a new position in shares of Coterra Energy during the third quarter valued at approximately $575,000. Finally, M.E. Allison & CO. Inc. purchased a new position in shares of Coterra Energy during the fourth quarter valued at approximately $217,000. Institutional investors own 87.92% of the company’s stock.

Insider Buying and Selling

In related news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the completion of the transaction, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is owned by company insiders.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $27.66 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 firm has a fifty day moving average price of $27.75 and a 200 day moving average price of $25.68. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The firm has a market cap of $21.13 billion, a price-to-earnings ratio of 16.66, a P/E/G ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $0.22 per share. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.18%. Coterra Energy’s dividend payout ratio is currently 58.28%.

Analyst Ratings Changes

CTRA has been the subject of several research reports. 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 report on Wednesday, February 12th. Mizuho boosted 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. Williams Trading set a $37.00 price objective on shares of Coterra Energy in a report on Wednesday, March 5th. Jefferies Financial Group upped 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. Finally, JPMorgan Chase & Co. reduced their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.10.

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.