Spire Wealth Management Sells 1,131 Shares of Coterra Energy Inc. (NYSE:CTRA)

Spire Wealth Management cut its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 47.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,272 shares of the company’s stock after selling 1,131 shares during the period. Spire Wealth Management’s holdings in Coterra Energy were worth $31,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CTRA. Schroder Investment Management Group boosted its position in Coterra Energy by 21.7% during the 3rd quarter. Schroder Investment Management Group now owns 7,187,516 shares of the company’s stock valued at $194,422,000 after acquiring an additional 1,281,094 shares in the last quarter. AQR Capital Management LLC boosted its position in Coterra Energy by 60.4% during the 3rd quarter. AQR Capital Management LLC now owns 1,936,277 shares of the company’s stock valued at $52,376,000 after acquiring an additional 729,306 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Coterra Energy by 47.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,247,785 shares of the company’s stock valued at $60,803,000 after acquiring an additional 720,464 shares in the last quarter. Victory Capital Management Inc. boosted its position in Coterra Energy by 3.5% during the 3rd quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock valued at $431,329,000 after acquiring an additional 544,768 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in Coterra Energy by 59.3% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,454,603 shares of the company’s stock valued at $39,347,000 after acquiring an additional 541,518 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $28.16 on Wednesday. The firm has a market capitalization of $20.96 billion, a price-to-earnings ratio of 16.28 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.46. The business has a fifty day moving average of $27.60 and a 200 day moving average of $26.35. 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 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 net margin of 23.34% and a return on equity of 10.75%. As a group, research analysts expect that Coterra Energy Inc. will post 1.82 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.98%. Coterra Energy’s payout ratio is currently 48.55%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy 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 in the company, valued at approximately $2,449,327.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other 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 transaction of $364,840.00. Following the sale, the vice president now directly owns 93,988 shares in the company, valued at approximately $2,449,327.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Todd M. Roemer sold 55,000 shares of the firm’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 sale, the chief accounting officer now owns 176,758 shares in the company, valued at $4,783,071.48. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Susquehanna increased their target price on Coterra Energy from $32.00 to $33.00 and gave the company a “positive” rating in a research report on Tuesday, May 7th. Scotiabank raised their price objective 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. Mizuho raised their price objective on Coterra Energy from $37.00 to $41.00 and gave the stock a “buy” rating in a research report on Monday. Stephens reissued an “overweight” rating and issued a $39.00 price objective on shares of Coterra Energy in a research report on Tuesday, January 23rd. Finally, Morgan Stanley raised their price objective on Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $33.13.

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.