Coterra Energy Inc. (NYSE:CTRA) Stock Holdings Increased by Cerity Partners LLC

Cerity Partners LLC raised its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 74.2% during the 4th quarter, Holdings Channel reports. The fund owned 55,004 shares of the company’s stock after purchasing an additional 23,420 shares during the period. Cerity Partners LLC’s holdings in Coterra Energy were worth $1,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC bought a new stake in Coterra Energy during the 4th quarter valued at $25,000. SouthState Corp raised its stake in shares of Coterra Energy by 75.4% in the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after buying an additional 454 shares in the last quarter. VisionPoint Advisory Group LLC raised its stake in shares of Coterra Energy by 133.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after buying an additional 740 shares in the last quarter. Achmea Investment Management B.V. bought a new stake in shares of Coterra Energy in the 1st quarter worth $41,000. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Coterra Energy in the 4th quarter worth $42,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $27.75 on Friday. Coterra Energy Inc. has a 1-year low of $22.91 and a 1-year 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. The company has a market capitalization of $20.86 billion, a price-to-earnings ratio of 12.97 and a beta of 0.21. The stock’s fifty day simple moving average is $26.71 and its 200-day simple moving average is $26.38.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. On average, sell-side analysts predict that Coterra Energy Inc. will post 1.93 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. Stockholders of record on Thursday, March 14th were issued a dividend of $0.21 per share. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.03%. Coterra Energy’s payout ratio is currently 39.25%.

Insider Activity

In other news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction on Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the transaction, the vice president now owns 93,988 shares in the company, valued at $2,449,327.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 stock was sold at an average price of $27.06, for a total value of $1,488,300.00. Following the transaction, the chief accounting officer now 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 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 disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CTRA has been the topic of a number of research reports. Bank of America raised Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Friday, January 5th. Barclays initiated coverage on Coterra Energy in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. UBS Group boosted their target price on Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Finally, Raymond James boosted their target price on Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.33.

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.