Elo Mutual Pension Insurance Co Purchases 1,891 Shares of Coterra Energy Inc. (NYSE:CTRA)

Elo Mutual Pension Insurance Co boosted its position in Coterra Energy Inc. (NYSE:CTRA) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 81,307 shares of the company’s stock after buying an additional 1,891 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Coterra Energy were worth $2,077,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. City State Bank acquired a new position in shares of Coterra Energy during the 4th quarter worth about $26,000. AdvisorNet Financial Inc boosted its position in Coterra Energy by 192.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after purchasing an additional 744 shares during the last quarter. MCF Advisors LLC grew its stake in Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares in the last quarter. R Squared Ltd acquired a new position in shares of Coterra Energy during the 4th quarter worth approximately $32,000. Finally, Plato Investment Management Ltd bought a new stake in shares of Coterra Energy during the 4th quarter worth approximately $43,000. Institutional investors own 87.92% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy 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 transaction, the senior vice president now owns 106,114 shares in the company, valued at approximately $3,086,856.26. This trade represents a 19.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the transaction, the senior vice president now directly 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 disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Coterra Energy Stock Performance

NYSE:CTRA opened at $28.65 on Friday. The company has a market cap of $21.89 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. 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 stock has a fifty day moving average price of $27.91 and a 200-day moving average price of $26.04.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were 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 was Thursday, March 13th. This represents a $0.88 annualized dividend and a yield of 3.07%. Coterra Energy’s dividend payout ratio is currently 58.28%.

Wall Street Analysts Forecast Growth

CTRA has been the subject of several analyst reports. UBS Group raised their target price 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. decreased 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 report on Thursday, March 13th. Jefferies Financial Group upped their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, February 4th. Piper Sandler boosted their price target on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Finally, Mizuho raised their price objective on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Three 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.35.

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.