Vinva Investment Management Ltd Acquires Shares of 17,802 Coterra Energy Inc. (NYSE:CTRA)

Vinva Investment Management Ltd acquired a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 17,802 shares of the company’s stock, valued at approximately $454,000.

Several other large investors have also bought and sold shares of CTRA. Private Trust Co. NA lifted its holdings in shares of Coterra Energy by 20.0% during the fourth quarter. Private Trust Co. NA now owns 2,140 shares of the company’s stock valued at $55,000 after purchasing an additional 356 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in shares of Coterra Energy by 1.8% during the fourth quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock valued at $559,000 after purchasing an additional 389 shares during the last quarter. Arkadios Wealth Advisors lifted its holdings in shares of Coterra Energy by 3.8% during the fourth quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock valued at $288,000 after purchasing an additional 413 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Coterra Energy by 5.8% during the fourth quarter. Blue Trust Inc. now owns 7,620 shares of the company’s stock valued at $182,000 after purchasing an additional 420 shares during the last quarter. Finally, New York Life Investment Management LLC lifted its holdings in shares of Coterra Energy by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 99,584 shares of the company’s stock valued at $2,543,000 after purchasing an additional 421 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

Coterra Energy Trading Down 1.0 %

Shares of Coterra Energy stock opened at $28.73 on Friday. The company has a market capitalization of $21.95 billion, a P/E ratio of 17.31, 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 quick ratio of 1.56 and a current ratio of 1.61. The company has a fifty day moving average of $27.94 and a 200 day moving average of $25.82. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $0.22 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.88 annualized dividend and a yield of 3.06%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is presently 58.28%.

Analyst Ratings Changes

CTRA has been the subject of a number of recent analyst reports. The Goldman Sachs Group boosted their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the stock 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 stock an “outperform” rating in a report on Monday, December 16th. Piper Sandler boosted their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Truist Financial boosted their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, UBS Group boosted their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.14.

Insiders Place Their Bets

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the sale, the senior vice president now owns 106,114 shares in the company, valued at $3,086,856.26. The trade was 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 company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the sale, the senior vice president now owns 126,770 shares in the company, valued at $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. Corporate insiders own 1.70% of the company’s stock.

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.