Oarsman Capital Inc. Has $839,000 Stake in Coterra Energy Inc. (NYSE:CTRA)

Oarsman Capital Inc. raised its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 6.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. City State Bank bought a new position in Coterra Energy during the fourth quarter worth $26,000. AdvisorNet Financial Inc raised its position 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 worth $29,000 after acquiring an additional 744 shares in the last quarter. MCF Advisors LLC lifted its stake in shares of Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares during the period. R Squared Ltd bought a new stake in shares of Coterra Energy during the 4th quarter valued at about $32,000. Finally, Plato Investment Management Ltd bought a new stake in shares of Coterra Energy during the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CTRA. Raymond James cut their price target on Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Williams Trading set a $37.00 price target on shares of Coterra Energy in a report on Wednesday, March 5th. Mizuho lifted their price target on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Piper Sandler increased their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Finally, UBS Group increased their price target on Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.35.

Insider Transactions at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the sale, the senior vice president now directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction that occurred on Wednesday, March 19th. The shares were 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 owns 106,114 shares of the company’s stock, valued at $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 company insiders.

Coterra Energy Trading Down 8.3 %

NYSE CTRA opened at $25.09 on Friday. The stock has a market capitalization of $19.17 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 0.59 and a beta of 0.47. The business’s fifty day moving average is $27.78 and its 200-day moving average is $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 Inc. has a one year low of $22.30 and a one year high of $29.95.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $0.22 per share. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date was Thursday, March 13th. Coterra Energy’s dividend payout ratio is currently 58.28%.

About Coterra Energy

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.