Oak Thistle LLC Boosts Stake in Coterra Energy Inc. (NYSE:CTRA)

Oak Thistle LLC grew its stake in Coterra Energy Inc. (NYSE:CTRAFree Report) by 23.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,912 shares of the company’s stock after buying an additional 5,590 shares during the period. Oak Thistle LLC’s holdings in Coterra Energy were worth $763,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CTRA. ICA Group Wealth Management LLC purchased a new position in shares of Coterra Energy during the fourth quarter worth $25,000. SouthState Corp raised its holdings in shares of Coterra Energy by 75.4% during the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after purchasing an additional 454 shares during the last quarter. VisionPoint Advisory Group LLC raised its holdings in shares of Coterra Energy by 133.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after purchasing an additional 740 shares during the last quarter. Achmea Investment Management B.V. purchased a new position in shares of Coterra Energy during the first quarter worth $41,000. Finally, Carolinas Wealth Consulting LLC purchased a new position in shares of Coterra Energy during the first quarter worth $46,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Insiders Place Their Bets

In other news, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following the sale, the vice president now directly owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the sale, the vice president now directly owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was 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 $4,783,071.48. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Susquehanna raised shares of Coterra Energy from a “neutral” rating to a “positive” rating and reduced their target price for the stock from $31.00 to $30.00 in a report on Friday, January 26th. UBS Group raised their price target on shares of Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Mizuho dropped their price target on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, March 21st. Raymond James raised their price target on shares of Coterra Energy from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Finally, Stifel Nicolaus dropped their price target on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.77.

Read Our Latest Stock Report on CTRA

Coterra Energy Stock Up 1.1 %

Shares of NYSE CTRA opened at $28.31 on Wednesday. The firm has a market cap of $21.28 billion, a price-to-earnings ratio of 13.23 and a beta of 0.21. Coterra Energy Inc. has a 52-week low of $22.91 and a 52-week high of $29.89. The company’s 50-day simple moving average is $25.92 and its 200-day simple moving average is $26.29. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12.

Coterra Energy (NYSE:CTRAGet Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.54 billion. Equities analysts predict that Coterra Energy Inc. will post 1.98 EPS for the current fiscal year.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.21 per share. The ex-dividend date was Wednesday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 2.97%. Coterra Energy’s payout ratio is 39.25%.

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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