International Assets Investment Management LLC Acquires New Shares in Coterra Energy Inc. (NYSE:CTRA)

International Assets Investment Management LLC purchased a new position in Coterra Energy Inc. (NYSE:CTRA) in the 4th quarter, Holdings Channel reports. The firm purchased 54,719 shares of the company’s stock, valued at approximately $1,396,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ICA Group Wealth Management LLC purchased a new stake in Coterra Energy in the fourth quarter worth approximately $25,000. SouthState Corp boosted 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 during the last quarter. VisionPoint Advisory Group LLC grew its holdings in shares of Coterra Energy by 133.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after acquiring an additional 740 shares during the period. Achmea Investment Management B.V. purchased a new stake in Coterra Energy during the first quarter valued at $41,000. Finally, Jefferies Financial Group Inc. bought a new position in Coterra Energy in the fourth quarter valued at about $42,000. 87.92% of the stock is owned by institutional investors.

Insider Activity at Coterra Energy

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CTRA shares. Stifel Nicolaus cut their price target on Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Mizuho reaffirmed a “buy” rating and issued a $34.00 target price on shares of Coterra Energy in a report on Wednesday, April 3rd. Truist Financial cut their price target on Coterra Energy from $30.00 to $27.00 and set a “hold” rating for the company in a report on Friday, April 5th. Raymond James lifted their price objective on Coterra Energy from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Finally, Morgan Stanley increased their target price on shares of Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and thirteen have issued 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.

Coterra Energy Stock Up 1.9 %

CTRA opened at $27.75 on Monday. Coterra Energy Inc. has a 52 week low of $22.91 and a 52 week high of $29.89. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12. The firm has a 50-day simple moving average of $26.71 and a two-hundred day simple moving average of $26.38. The company has a market capitalization of $20.86 billion, a PE ratio of 12.97 and a beta of 0.21.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 EPS 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 firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.54 billion. Analysts forecast 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. Investors of record on Thursday, March 14th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Wednesday, March 13th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s payout ratio is currently 39.25%.

Coterra Energy 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.