Dark Forest Capital Management LP Invests $942,000 in Coterra Energy Inc. (NYSE:CTRA)

by · The Markets Daily

Dark Forest Capital Management LP bought a new stake in shares of Coterra Energy Inc. (NYSE:CTRA – Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 36,884 shares of the company’s stock, valued at approximately $942,000.

Several other large investors have also added to or reduced their stakes in the business. Wellington Management Group LLP boosted its holdings in shares of Coterra Energy by 1.9% during the 4th quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company’s stock worth $1,852,385,000 after buying an additional 1,318,754 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Coterra Energy by 5.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock worth $599,356,000 after acquiring an additional 1,310,965 shares in the last quarter. Geode Capital Management LLC grew its holdings in Coterra Energy by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company’s stock worth $486,528,000 after purchasing an additional 96,059 shares during the period. Victory Capital Management Inc. increased its stake in Coterra Energy by 5.0% in the fourth quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company’s stock valued at $454,834,000 after purchasing an additional 845,609 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Coterra Energy by 9.0% during the fourth quarter. Invesco Ltd. now owns 12,232,484 shares of the company’s stock valued at $312,418,000 after purchasing an additional 1,011,166 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the firm’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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kevin William Smith sold 25,733 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the transaction, the senior vice president now directly owns 106,114 shares in the company, valued at $3,086,856.26. This represents a 19.52 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

CTRA has been the subject of a number of research analyst reports. Barclays decreased their target price on Coterra Energy from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Wednesday. Morgan Stanley set a $28.00 price objective on Coterra Energy in a report on Tuesday, April 15th. UBS Group cut their target price on Coterra Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. decreased their price target 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, March 13th. Finally, Williams Trading set a $37.00 price objective on shares of Coterra Energy in a report on Wednesday, March 5th. 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.00.

View Our Latest Analysis on CTRA

Coterra Energy Trading Up 1.3 %

Shares of Coterra Energy stock opened at $25.40 on Thursday. The stock has a fifty day moving average price of $26.99 and a 200-day moving average price of $26.32. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The firm has a market cap of $19.41 billion, a PE ratio of 15.30, a P/E/G ratio of 0.59 and a beta of 0.47. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $0.22 dividend. This is a positive change 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 3.46%. Coterra Energy’s payout ratio is currently 58.28%.

Coterra Energy Company Profile

(Free Report)

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.

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