Mutual of America Capital Management LLC Lowers Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Mutual of America Capital Management LLC reduced its stake in Coterra Energy Inc. (NYSE:CTRA) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 127,515 shares of the company’s stock after selling 7,179 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Coterra Energy were worth $3,254,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CTRA. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Coterra Energy in the 1st quarter valued at approximately $1,267,000. D.A. Davidson & CO. purchased a new position in shares of Coterra Energy in the 1st quarter valued at approximately $305,000. Yousif Capital Management LLC purchased a new position in shares of Coterra Energy in the 1st quarter valued at approximately $3,011,000. Raymond James Trust N.A. purchased a new position in shares of Coterra Energy in the 1st quarter valued at approximately $400,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of Coterra Energy in the 1st quarter valued at approximately $3,218,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Morgan Stanley raised their price target on Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday. Raymond James raised their price target on Coterra Energy from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Susquehanna raised Coterra Energy from a “neutral” rating to a “positive” rating and reduced their price target for the company from $31.00 to $30.00 in a report on Friday, January 26th. Stifel Nicolaus reduced their price target on Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Finally, UBS Group raised their price target on Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a report on Friday, March 1st. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.20.

Insiders Place Their Bets

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

Coterra Energy Trading Up 0.1 %

Coterra Energy stock opened at $27.22 on Thursday. The stock has a market cap of $20.46 billion, a PE ratio of 12.72 and a beta of 0.21. The stock has a 50-day moving average price of $26.59 and a 200 day moving average price of $26.37. Coterra Energy Inc. has a 52 week low of $22.91 and a 52 week high of $29.89. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. Equities research analysts predict that Coterra Energy Inc. will post 1.92 earnings per share for the current fiscal year.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.09%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is presently 39.25%.

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.