Catalyst Funds Management Pty Ltd Purchases Shares of 8,000 Coterra Energy Inc. (NYSE:CTRA)

Catalyst Funds Management Pty Ltd bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,000 shares of the company’s stock, valued at approximately $204,000.

Several other hedge funds have also recently modified their holdings of the company. Hilton Capital Management LLC lifted its position in shares of Coterra Energy by 4.9% during the 4th quarter. Hilton Capital Management LLC now owns 53,965 shares of the company’s stock worth $1,378,000 after buying an additional 2,540 shares in the last quarter. Wellington Shields Capital Management LLC purchased a new position in Coterra Energy in the 4th quarter valued at approximately $236,000. Commonwealth Equity Services LLC grew its stake in Coterra Energy by 16.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 706,386 shares of the company’s stock valued at $18,041,000 after buying an additional 100,035 shares in the last quarter. Vestcor Inc grew its stake in Coterra Energy by 29.5% in the 4th quarter. Vestcor Inc now owns 19,875 shares of the company’s stock valued at $508,000 after buying an additional 4,533 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its stake in Coterra Energy by 7.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 95,225 shares of the company’s stock valued at $2,432,000 after buying an additional 6,666 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Up 3.5 %

Shares of NYSE:CTRA opened at $27.66 on Monday. The stock’s 50-day moving average price is $27.75 and its 200-day moving average price is $25.68. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The stock has a market capitalization of $21.13 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

Coterra Energy Increases Dividend

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

Insider Transactions at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the 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 completion of the sale, the senior vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, February 4th. Piper Sandler lifted their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. UBS Group lifted their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. reduced their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, The Goldman Sachs Group lifted 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. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued 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.

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.