Oarsman Capital Inc. Raises Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Oarsman Capital Inc. raised its position in Coterra Energy Inc. (NYSE:CTRA) by 6.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,834 shares of the company’s stock after purchasing an additional 2,037 shares during the period. Oarsman Capital Inc.’s holdings in Coterra Energy were worth $839,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on CTRA. UBS Group lifted their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Raymond James dropped their price target on Coterra Energy from $41.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, March 12th. Johnson Rice upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and increased their price objective for the company from $34.00 to $37.00 in a research report on Wednesday, March 12th. Morgan Stanley reduced their price target on shares of Coterra Energy from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. Finally, Piper Sandler increased their target price on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $34.35.

Insider Buying and Selling at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of the firm’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 completion of the transaction, the senior vice president now owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This trade represents a 21.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 106,114 shares in the company, valued at $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. Insiders own 1.70% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA opened at $25.09 on Friday. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The firm has a market capitalization of $19.17 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 0.59 and a beta of 0.47. The company has a 50-day simple moving average of $27.78 and a two-hundred day simple moving average of $26.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Coterra Energy Increases Dividend

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