Belpointe Asset Management LLC Boosts Stake in Coterra Energy Inc. (NYSE:CTRA)

Belpointe Asset Management LLC lifted its holdings in Coterra Energy Inc. (NYSE:CTRAFree Report) by 5.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,691 shares of the company’s stock after buying an additional 830 shares during the period. Belpointe Asset Management LLC’s holdings in Coterra Energy were worth $426,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Invesco Ltd. increased its holdings in Coterra Energy by 1.5% during the third quarter. Invesco Ltd. now owns 10,723,660 shares of the company’s stock worth $290,075,000 after buying an additional 161,776 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Coterra Energy by 8.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,465,383 shares of the company’s stock valued at $267,089,000 after buying an additional 848,519 shares during the period. Northern Trust Corp lifted its position in shares of Coterra Energy by 2.3% during the 3rd quarter. Northern Trust Corp now owns 9,084,114 shares of the company’s stock valued at $245,725,000 after buying an additional 201,520 shares during the last quarter. Morgan Stanley grew its stake in shares of Coterra Energy by 5.9% during the 3rd quarter. Morgan Stanley now owns 8,421,481 shares of the company’s stock worth $227,801,000 after acquiring an additional 466,511 shares during the period. Finally, Schroder Investment Management Group increased its holdings in Coterra Energy by 21.7% in the 3rd quarter. Schroder Investment Management Group now owns 7,187,516 shares of the company’s stock worth $194,422,000 after acquiring an additional 1,281,094 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction dated 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 completion of the sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at $4,783,071.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Susquehanna lifted their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the company a “positive” rating in a research note on Tuesday, May 7th. Mizuho increased their target price on Coterra Energy from $37.00 to $41.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Piper Sandler boosted their price objective on Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, May 14th. Finally, Scotiabank lifted their target price on Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $33.73.

Get Our Latest Research Report on Coterra Energy

Coterra Energy Stock Up 0.4 %

Shares of NYSE:CTRA opened at $27.66 on Friday. The firm has a market capitalization of $20.59 billion, a PE ratio of 15.99 and a beta of 0.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.49. Coterra Energy Inc. has a 52-week low of $23.60 and a 52-week high of $29.89. The firm has a fifty day moving average of $27.85 and a 200 day moving average of $26.41.

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

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were issued a $0.21 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.04%. Coterra Energy’s dividend payout ratio is currently 48.55%.

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)

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