Seven Eight Capital LP Has $1.08 Million Stake in Coterra Energy Inc. (NYSE:CTRA)

Seven Eight Capital LP raised its stake in Coterra Energy Inc. (NYSE:CTRAFree Report) by 110.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,261 shares of the company’s stock after purchasing an additional 22,227 shares during the quarter. Seven Eight Capital LP’s holdings in Coterra Energy were worth $1,079,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of CTRA. Significant Wealth Partners LLC purchased a new position in shares of Coterra Energy in the 4th quarter worth approximately $1,604,000. Robeco Institutional Asset Management B.V. grew its stake in Coterra Energy by 172.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 726,123 shares of the company’s stock valued at $18,531,000 after purchasing an additional 459,713 shares during the period. Van ECK Associates Corp increased its position in shares of Coterra Energy by 2.1% during the 3rd quarter. Van ECK Associates Corp now owns 113,399 shares of the company’s stock valued at $3,068,000 after purchasing an additional 2,376 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Coterra Energy during the 3rd quarter worth $1,461,000. Finally, KBC Group NV boosted its holdings in shares of Coterra Energy by 240.1% in the 4th quarter. KBC Group NV now owns 863,965 shares of the company’s stock worth $22,049,000 after buying an additional 609,954 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

NYSE CTRA opened at $27.58 on Monday. Coterra Energy Inc. has a 52-week low of $23.60 and a 52-week high of $29.89. The company has a fifty day moving average of $27.85 and a 200-day moving average of $26.42. The company has a market capitalization of $20.53 billion, a P/E ratio of 15.94 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 (NYSE:CTRAGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. As a group, equities research analysts predict that Coterra Energy Inc. will post 1.99 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 3.05%. Coterra Energy’s payout ratio is 48.55%.

Insider Activity

In related 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 transaction, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on CTRA. Scotiabank raised their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Susquehanna upped their price objective on Coterra Energy from $32.00 to $33.00 and gave the company a “positive” rating in a research note on Tuesday, May 7th. Barclays began coverage on Coterra Energy in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 target price for the company. Truist Financial raised Coterra Energy from a “hold” rating to a “buy” rating and upped their price target for the company from $27.00 to $35.00 in a research report on Thursday, May 16th. Finally, Citigroup raised their price objective on shares of Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, May 24th. One research 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.73.

Read Our Latest Stock Analysis on CTRA

Coterra Energy Company 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.

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

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