Aster Capital Management DIFC Ltd Acquires 13,507 Shares of Coterra Energy Inc. (NYSE:CTRA)

Aster Capital Management DIFC Ltd raised its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 175.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,194 shares of the company’s stock after purchasing an additional 13,507 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Coterra Energy were worth $541,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CTRA. Czech National Bank raised its stake in 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 buying an additional 9,115 shares during the last quarter. Bourgeon Capital Management LLC raised its position in shares of Coterra Energy by 107.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock worth $6,052,000 after purchasing an additional 122,487 shares during the last quarter. M.E. Allison & CO. Inc. bought a new position in Coterra Energy in the 4th quarter worth about $217,000. Barclays PLC grew its position in Coterra Energy by 3.1% during the 3rd quarter. Barclays PLC now owns 2,147,263 shares of the company’s stock valued at $51,425,000 after purchasing an additional 64,753 shares during the last quarter. Finally, Range Financial Group LLC bought a new stake in Coterra Energy during the 4th quarter valued at about $1,267,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Down 8.3 %

NYSE CTRA opened at $25.09 on Monday. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $19.17 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 0.59 and a beta of 0.47. The stock’s 50-day moving average price is $27.78 and its 200-day moving average price is $26.23.

Coterra Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.88 annualized dividend and a yield of 3.51%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is currently 58.28%.

Insiders Place Their Bets

In related news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy 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 sale, the senior vice president now owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kevin William Smith sold 25,733 shares of the company’s 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 completion of the transaction, the senior vice president now 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 disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CTRA shares. The Goldman Sachs Group increased their price target 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. Morgan Stanley reduced their target price on Coterra Energy from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. Williams Trading set a $37.00 price target on Coterra Energy in a report on Wednesday, March 5th. Mizuho lifted their price objective on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Finally, Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and upped their target price for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $34.35.

About Coterra Energy

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.