Argonautica Private Wealth Management Inc. Has $302,000 Position in Coterra Energy Inc. (NYSE:CTRA)

Argonautica Private Wealth Management Inc. boosted its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,805 shares of the company’s stock after acquiring an additional 632 shares during the period. Argonautica Private Wealth Management Inc.’s holdings in Coterra Energy were worth $302,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund lifted its holdings in shares of Coterra Energy by 20.9% during the 4th quarter. Illinois Municipal Retirement Fund now owns 441,863 shares of the company’s stock worth $11,285,000 after acquiring an additional 76,509 shares during the period. Bank of New York Mellon Corp raised its position in Coterra Energy by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 4,943,266 shares of the company’s stock worth $126,251,000 after purchasing an additional 259,858 shares in the last quarter. Sentry Investment Management LLC raised its position in Coterra Energy by 10.0% in the fourth quarter. Sentry Investment Management LLC now owns 18,764 shares of the company’s stock worth $479,000 after purchasing an additional 1,702 shares in the last quarter. Blackhawk Capital Partners LLC. bought a new position in Coterra Energy during the fourth quarter worth about $324,000. Finally, IFP Advisors Inc boosted its holdings in Coterra Energy by 15.7% during the fourth quarter. IFP Advisors Inc now owns 4,664 shares of the company’s stock valued at $119,000 after purchasing an additional 633 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

CTRA has been the subject of a number of recent research reports. Raymond James increased their target price on Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. UBS Group lifted their price objective on Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Piper Sandler upped their target price on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Stephens lifted their price target on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group boosted their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $33.42.

Insider Buying and Selling

In related news, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the completion of the sale, the senior vice president now owns 77,075 shares in the company, valued at approximately $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.70% of the stock is currently owned by insiders.

Coterra Energy Price Performance

Coterra Energy stock opened at $27.38 on Wednesday. The business’s 50-day simple moving average is $27.29 and its 200 day simple moving average is $25.45. 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 stock has a market cap of $20.17 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.22 per share. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.21%. Coterra Energy’s payout ratio is currently 50.60%.

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.