Foundry Partners LLC Purchases New Stake in Coterra Energy Inc. (NYSE:CTRA)

by · The Markets Daily

Foundry Partners LLC acquired a new position in Coterra Energy Inc. (NYSE:CTRA – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 436,010 shares of the company’s stock, valued at approximately $11,136,000. Foundry Partners LLC owned 0.06% of Coterra Energy at the end of the most recent reporting period.

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

Insider Transactions at Coterra Energy

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy 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 transaction, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the transaction, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. This represents a 19.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Coterra Energy Price Performance

Shares of Coterra Energy stock opened at $27.41 on Friday. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The firm has a fifty day simple moving average of $27.86 and a 200-day simple moving average of $26.17. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $20.94 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 0.59 and a beta of 0.47.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.22 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.21%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio (DPR) is 58.28%.

Wall Street Analyst Weigh In

CTRA has been the topic of a number of research analyst reports. UBS Group raised 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. The Goldman Sachs Group raised their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Williams Trading set a $37.00 target price on Coterra Energy in a research report on Wednesday, March 5th. Jefferies Financial Group lifted their price target on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday, February 4th. Finally, Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and upped their price target for the company from $34.00 to $37.00 in a research report on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and an average price target of $34.35.

Check Out Our Latest Stock Report on CTRA

Coterra Energy 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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