JPMorgan Chase & Co. reduced its stake in shares of Coterra Energy Inc. (NYSE:CTRA – Get Rating) by 20.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,047,481 shares of the company’s stock after selling 4,112,832 shares during the period. JPMorgan Chase & Co. owned 2.04% of Coterra Energy worth $394,287,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the stock. Adirondack Trust Co. acquired a new stake in Coterra Energy during the 4th quarter worth about $25,000. Red Tortoise LLC acquired a new stake in Coterra Energy during the 4th quarter worth about $25,000. Accurate Wealth Management LLC acquired a new stake in Coterra Energy during the 4th quarter worth about $28,000. Guardian Wealth Advisors LLC acquired a new stake in Coterra Energy during the 3rd quarter worth about $30,000. Finally, Accel Wealth Management acquired a new stake in shares of Coterra Energy in the 4th quarter valued at about $30,000. 94.72% of the stock is owned by institutional investors.
Insider Activity at Coterra Energy
In related news, VP Michael D. Deshazer sold 20,824 shares of the company’s stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $24.10, for a total value of $501,858.40. Following the transaction, the vice president now owns 77,406 shares in the company, valued at $1,865,484.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.70% of the stock is owned by company insiders.
Coterra Energy Price Performance
Shares of NYSE CTRA opened at $22.96 on Friday. Coterra Energy Inc. has a twelve month low of $22.25 and a twelve month high of $36.55. The stock’s 50 day moving average price is $24.91 and its 200-day moving average price is $25.06. The company has a market capitalization of $17.39 billion, a PE ratio of 4.38, a PEG ratio of 0.17 and a beta of 0.26. The company has a quick ratio of 1.61, a current ratio of 1.66 and a debt-to-equity ratio of 0.17.
Coterra Energy (NYSE:CTRA – Get Rating) last announced its earnings results on Thursday, May 4th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.16. Coterra Energy had a return on equity of 29.48% and a net margin of 45.19%. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.62 billion. On average, equities analysts anticipate that Coterra Energy Inc. will post 2.53 EPS for the current year.
Coterra Energy Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Friday, May 26th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 25th. This represents a $0.80 annualized dividend and a yield of 3.48%. Coterra Energy’s payout ratio is 15.27%.
Analyst Ratings Changes
CTRA has been the subject of a number of research analyst reports. Raymond James lowered Coterra Energy from an “outperform” rating to a “market perform” rating in a research report on Monday, February 6th. Roth Capital reaffirmed a “neutral” rating on shares of Coterra Energy in a research report on Wednesday, February 22nd. Morgan Stanley boosted their target price on Coterra Energy from $26.00 to $27.00 in a research report on Monday, May 15th. Citigroup raised Coterra Energy from a “sell” rating to a “neutral” rating and boosted their target price for the company from $22.00 to $25.00 in a research report on Wednesday, April 19th. Finally, Barclays boosted their price objective on Coterra Energy from $26.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday, March 17th. Sixteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $30.25.
Coterra Energy Profile
Coterra Energy Inc is a diversified energy company, which engages in the exploration, development, and production of oil and natural gas properties. Its portfolio includes projects in the Permian Basin, the Marcellus Shale, and the Anadarko Basin. The company was renamed to Coterra Energy Inc on October 1, 2021 in connection with the merger involving Cabot Oil & Gas Corp.
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