Allspring Global Investments Holdings LLC Cuts Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Allspring Global Investments Holdings LLC cut its holdings in Coterra Energy Inc. (NYSE:CTRA) by 26.2% in the fourth quarter, HoldingsChannel reports. The firm owned 111,591 shares of the company’s stock after selling 39,562 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Coterra Energy were worth $2,848,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of CTRA. ICA Group Wealth Management LLC purchased a new position in Coterra Energy during the fourth quarter worth $25,000. SouthState Corp boosted its stake in Coterra Energy by 75.4% during the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after buying an additional 454 shares during the period. VisionPoint Advisory Group LLC boosted its stake in Coterra Energy by 133.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after buying an additional 740 shares during the period. Achmea Investment Management B.V. purchased a new position in Coterra Energy during the first quarter worth $41,000. Finally, Jefferies Financial Group Inc. purchased a new position in Coterra Energy during the fourth quarter worth $42,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTRA has been the subject of several recent analyst reports. Barclays initiated coverage on shares of Coterra Energy in a research note on Wednesday, April 10th. They set an “overweight” rating and a $36.00 price objective for the company. Stifel Nicolaus dropped 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 note on Friday, March 22nd. UBS Group lifted their price objective on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Piper Sandler lifted their target price on Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Scotiabank lifted their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $32.33.

Coterra Energy Stock Performance

CTRA stock opened at $27.75 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18. The business has a 50-day moving average price of $26.71 and a 200 day moving average price of $26.38. The company has a market capitalization of $20.86 billion, a P/E ratio of 12.97 and a beta of 0.21. Coterra Energy Inc. has a 1-year low of $22.91 and a 1-year high of $29.89.

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 firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. As a group, equities research analysts forecast that Coterra Energy Inc. will post 1.93 EPS for the current fiscal year.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.21 dividend. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Wednesday, March 13th. Coterra Energy’s payout ratio is presently 39.25%.

Insider Activity at Coterra Energy

In related news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the business’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 directly owns 176,758 shares in the company, valued at $4,783,071.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the completion of the transaction, the vice president now owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

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.