Wells Fargo & Company MN lessened its stake in Coterra Energy Inc. (NYSE:CTRA – Free Report) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,950,562 shares of the company’s stock after selling 77,580 shares during the period. Wells Fargo & Company MN owned about 0.26% of Coterra Energy worth $49,778,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in CTRA. Balentine LLC raised its position in Coterra Energy by 8.4% in the fourth quarter. Balentine LLC now owns 11,863 shares of the company’s stock worth $303,000 after purchasing an additional 917 shares in the last quarter. Gladstone Institutional Advisory LLC raised its position in Coterra Energy by 7.8% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 8,509 shares of the company’s stock worth $217,000 after purchasing an additional 615 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in Coterra Energy by 13.0% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 30,262 shares of the company’s stock worth $772,000 after purchasing an additional 3,481 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its position in Coterra Energy by 273.3% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 73,615 shares of the company’s stock worth $1,879,000 after purchasing an additional 53,896 shares in the last quarter. Finally, ING Groep NV raised its position in Coterra Energy by 47.3% in the fourth quarter. ING Groep NV now owns 706,630 shares of the company’s stock worth $18,033,000 after purchasing an additional 226,885 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on CTRA. Mizuho increased their price target on shares of Coterra Energy from $37.00 to $41.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. UBS Group raised their price objective on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, March 1st. 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. 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.73.
Read Our Latest Research Report on CTRA
Insider Buying and Selling at Coterra Energy
In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the firm’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 value 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 $4,783,071.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other 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 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 $4,783,071.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction on Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the transaction, the vice president now directly owns 93,988 shares in the company, valued at $2,449,327.28. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
Coterra Energy Stock Performance
Shares of Coterra Energy stock opened at $27.13 on Friday. 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 firm has a market cap of $20.19 billion, a P/E ratio of 15.68 and a beta of 0.22. The firm has a 50 day simple moving average of $27.81 and a 200 day simple moving average of $26.37. Coterra Energy Inc. has a fifty-two week low of $22.91 and a fifty-two week high of $29.89.
Coterra Energy (NYSE:CTRA – Get Free Report) last issued its quarterly earnings results 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 net margin of 23.34% and a return on equity of 10.75%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.38 billion. Sell-side analysts predict that Coterra Energy Inc. will post 1.82 earnings per share for the current fiscal year.
Coterra Energy Announces Dividend
The firm 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 $0.21 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.10%. Coterra Energy’s payout ratio is presently 48.55%.
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.
Further Reading
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Source: defenseworld.net
