Bleakley Financial Group LLC Increases Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Bleakley Financial Group LLC grew its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 8.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,604 shares of the company’s stock after buying an additional 1,496 shares during the period. Bleakley Financial Group LLC’s holdings in Coterra Energy were worth $500,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Quent Capital LLC boosted its position in Coterra Energy by 7.4% during the 3rd quarter. Quent Capital LLC now owns 5,441 shares of the company’s stock worth $147,000 after purchasing an additional 375 shares during the period. Beacon Investment Advisors LLC boosted its position in Coterra Energy by 0.7% in the 3rd quarter. Beacon Investment Advisors LLC now owns 62,447 shares of the company’s stock valued at $1,689,000 after buying an additional 422 shares during the last quarter. SouthState Corp boosted its position in Coterra Energy by 75.4% in the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after buying an additional 454 shares during the last quarter. Echo Street Capital Management LLC boosted its position in Coterra Energy by 5.5% in the 4th quarter. Echo Street Capital Management LLC now owns 9,084 shares of the company’s stock valued at $223,000 after buying an additional 477 shares during the last quarter. Finally, Hoxton Planning & Management LLC boosted its position in Coterra Energy by 3.9% in the 1st quarter. Hoxton Planning & Management LLC now owns 13,238 shares of the company’s stock valued at $325,000 after buying an additional 500 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

CTRA opened at $27.64 on Friday. The firm has a market cap of $20.78 billion, a price-to-earnings ratio of 12.92 and a beta of 0.21. Coterra Energy Inc. has a fifty-two week low of $22.91 and a fifty-two week high of $29.89. The company’s 50-day moving average price is $26.41 and its 200 day moving average price is $26.37. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.06). The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.54 billion. Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. As a group, sell-side analysts expect that Coterra Energy Inc. will post 1.95 earnings per share for the current year.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.21 dividend. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 13th. This represents a $0.84 annualized dividend and a yield of 3.04%. Coterra Energy’s dividend payout ratio is 39.25%.

Analysts Set New Price Targets

A number of research firms have weighed in on CTRA. Piper Sandler upped their price objective on shares of Coterra Energy from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Mizuho reissued a “buy” rating and issued a $34.00 price objective on shares of Coterra Energy in a research report on Wednesday, April 3rd. Stifel Nicolaus decreased their price objective on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Barclays assumed coverage on shares of Coterra Energy in a research report on Wednesday. They issued an “overweight” rating and a $36.00 price objective for the company. Finally, Scotiabank upped their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.00.

Insiders Place Their Bets

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the transaction, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the transaction, the vice president now owns 93,988 shares in the company, valued at approximately $2,449,327.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the transaction, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

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.