Coterra Energy Inc. (NYSE:CTRA) Shares Sold by RNC Capital Management LLC

RNC Capital Management LLC lessened its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 76,358 shares of the company’s stock after selling 4,805 shares during the period. RNC Capital Management LLC’s holdings in Coterra Energy were worth $1,949,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTRA. Raymond James Financial Services Advisors Inc. purchased a new position in Coterra Energy during the first quarter valued at $1,267,000. D.A. Davidson & CO. purchased a new stake in shares of Coterra Energy during the first quarter worth about $305,000. Yousif Capital Management LLC purchased a new stake in shares of Coterra Energy during the first quarter worth about $3,011,000. Raymond James Trust N.A. purchased a new stake in shares of Coterra Energy during the first quarter worth about $400,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in shares of Coterra Energy during the first quarter worth about $3,218,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Citigroup raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $28.00 to $30.00 in a research note on Monday, December 11th. Stephens reaffirmed an “overweight” rating and set a $39.00 price objective on shares of Coterra Energy in a research note on Tuesday, January 23rd. Stifel Nicolaus dropped their price objective on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Bank of America raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Friday, January 5th. Finally, UBS Group upped their price objective on shares of Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.85.

Insider Transactions at Coterra Energy

In other news, CAO Todd M. Roemer sold 55,000 shares of the company’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 in the company, valued at approximately $4,783,071.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at approximately $4,783,071.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction that occurred 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 sale, the vice president now owns 93,988 shares in the company, valued at $2,449,327.28. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Coterra Energy Stock Performance

NYSE:CTRA opened at $27.87 on Thursday. The company’s 50-day moving average is $25.64 and its two-hundred day moving average is $26.31. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18. Coterra Energy Inc. has a 1-year low of $22.91 and a 1-year high of $29.89. The firm has a market capitalization of $20.95 billion, a price-to-earnings ratio of 13.02 and a beta of 0.20.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. Analysts forecast that Coterra Energy Inc. will post 1.99 EPS for the current year.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th will be issued a $0.21 dividend. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Wednesday, March 13th. Coterra Energy’s dividend payout ratio is currently 39.25%.

Coterra Energy Company 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.