Eagle Asset Management Inc. Buys 27,229 Shares of Coterra Energy Inc. (NYSE:CTRA)

Eagle Asset Management Inc. raised its stake in Coterra Energy Inc. (NYSE:CTRAFree Report) by 31.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 112,708 shares of the company’s stock after buying an additional 27,229 shares during the period. Eagle Asset Management Inc.’s holdings in Coterra Energy were worth $2,876,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CTRA. Assenagon Asset Management S.A. boosted its position in shares of Coterra Energy by 66.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 15,113 shares of the company’s stock valued at $409,000 after purchasing an additional 6,019 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Coterra Energy by 248.5% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,628 shares of the company’s stock valued at $1,018,000 after purchasing an additional 26,832 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in shares of Coterra Energy by 3.0% during the 3rd quarter. Avantax Advisory Services Inc. now owns 91,489 shares of the company’s stock valued at $2,475,000 after purchasing an additional 2,634 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC boosted its position in shares of Coterra Energy by 10.7% during the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 138,966 shares of the company’s stock valued at $3,759,000 after purchasing an additional 13,416 shares in the last quarter. Finally, Amalgamated Bank boosted its position in shares of Coterra Energy by 1.1% during the 3rd quarter. Amalgamated Bank now owns 199,582 shares of the company’s stock valued at $5,399,000 after purchasing an additional 2,145 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA opened at $27.48 on Wednesday. The company has a current ratio of 1.49, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $20.45 billion, a price-to-earnings ratio of 15.88 and a beta of 0.21. The stock has a 50 day moving average of $27.86 and a 200 day moving average of $26.40. Coterra Energy Inc. has a 12 month low of $23.39 and a 12 month high of $29.89.

Coterra Energy (NYSE:CTRAGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.38 billion. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. As a group, sell-side analysts forecast that Coterra Energy Inc. will post 1.81 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Wednesday, May 15th. Coterra Energy’s payout ratio is 48.55%.

Insider Activity at Coterra Energy

In related news, CAO Todd M. Roemer sold 55,000 shares of the 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 completion of the sale, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CTRA. Morgan Stanley increased their price target on Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. Piper Sandler increased their price target on Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday, May 14th. Mizuho increased their price target on Coterra Energy from $37.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, May 13th. JPMorgan Chase & Co. increased their price target on Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, Stifel Nicolaus cut their price target on Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $33.73.

Read Our Latest Report on CTRA

Coterra Energy Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Coterra Energy (NYSE:CTRA)

Receive News & Ratings for Coterra Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coterra Energy and related companies with MarketBeat.com's FREE daily email newsletter.