Tennessee Valley Asset Management Partners Makes New $33,000 Investment in Coterra Energy Inc. (NYSE:CTRA)

Tennessee Valley Asset Management Partners acquired a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,285 shares of the company’s stock, valued at approximately $33,000.

A number of other hedge funds have also recently made changes to their positions in CTRA. Schroder Investment Management Group grew its holdings in shares of Coterra Energy by 21.7% during the third quarter. Schroder Investment Management Group now owns 7,187,516 shares of the company’s stock valued at $194,422,000 after buying an additional 1,281,094 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Coterra Energy by 60.4% during the third quarter. AQR Capital Management LLC now owns 1,936,277 shares of the company’s stock valued at $52,376,000 after buying an additional 729,306 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Coterra Energy by 47.2% during the third quarter. Envestnet Asset Management Inc. now owns 2,247,785 shares of the company’s stock valued at $60,803,000 after purchasing an additional 720,464 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Coterra Energy by 3.5% during the third quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock valued at $431,329,000 after purchasing an additional 544,768 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of Coterra Energy by 59.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 1,454,603 shares of the company’s stock valued at $39,347,000 after purchasing an additional 541,518 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CTRA shares. Truist Financial dropped their price target on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Susquehanna raised their price target on shares of Coterra Energy from $30.00 to $32.00 and gave the company a “positive” rating in a research report on Monday. Stephens reissued an “overweight” rating and set a $39.00 price target on shares of Coterra Energy in a research report on Tuesday, January 23rd. Morgan Stanley raised their price target on shares of Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Finally, UBS Group raised their price target on shares of Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $32.47.

Insider Transactions at Coterra Energy

In other news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy 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 $4,783,071.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Todd M. Roemer sold 55,000 shares of the business’s 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 transaction, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $28.14 on Wednesday. The firm has a market cap of $21.15 billion, a price-to-earnings ratio of 13.15 and a beta of 0.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21. Coterra Energy Inc. has a 52 week low of $22.91 and a 52 week high of $29.89. The firm’s 50-day simple moving average is $26.86 and its two-hundred day simple moving average is $26.41.

Coterra Energy (NYSE:CTRA) last posted its earnings results 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 during 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%. As a group, equities analysts forecast that Coterra Energy Inc. will post 1.93 earnings per share for the current year.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.21 dividend. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.84 annualized dividend and a dividend yield of 2.99%. Coterra Energy’s dividend payout ratio (DPR) is presently 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.