Los Angeles Capital Management LLC Sells 103,257 Shares of Coterra Energy Inc. (NYSE:CTRA)

Los Angeles Capital Management LLC cut its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 48.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,533 shares of the company’s stock after selling 103,257 shares during the period. Los Angeles Capital Management LLC’s holdings in Coterra Energy were worth $2,821,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Beacon Investment Advisors LLC lifted its position in shares of Coterra Energy by 0.7% during the 3rd quarter. Beacon Investment Advisors LLC now owns 62,447 shares of the company’s stock worth $1,689,000 after buying an additional 422 shares during the last quarter. Stone House Investment Management LLC boosted its stake in shares of Coterra Energy by 32.4% in the 4th quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock valued at $46,000 after purchasing an additional 438 shares in the last quarter. SouthState Corp grew its holdings in shares of Coterra Energy by 75.4% during the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after purchasing an additional 454 shares during the last quarter. Trust Co. of Vermont increased its position in Coterra Energy by 1.9% during the 3rd quarter. Trust Co. of Vermont now owns 26,314 shares of the company’s stock worth $712,000 after purchasing an additional 503 shares in the last quarter. Finally, Cascade Investment Advisors Inc. lifted its stake in Coterra Energy by 1.1% in the 4th quarter. Cascade Investment Advisors Inc. now owns 51,140 shares of the company’s stock valued at $1,305,000 after purchasing an additional 535 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insider Transactions at Coterra Energy

In related news, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction 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 transaction, the vice president now owns 93,988 shares in the company, valued at approximately $2,449,327.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 stock was sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the sale, the chief accounting officer now 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 Securities & Exchange Commission, which is available at this hyperlink. Also, 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 owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $28.34 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 0.89 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $21.31 billion, a PE ratio of 16.38 and a beta of 0.22. The firm has a fifty day simple moving average of $27.35 and a 200 day simple moving average of $26.35. Coterra Energy Inc. has a twelve month low of $22.91 and a twelve month high of $29.89.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. On average, sell-side analysts forecast that Coterra Energy Inc. will post 1.82 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Wednesday, May 15th. Coterra Energy’s payout ratio is 48.55%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Susquehanna boosted their target price on shares of Coterra Energy from $30.00 to $32.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Morgan Stanley upped their target price on Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. Barclays began coverage on Coterra Energy in a research note on Wednesday, April 10th. They set an “overweight” rating and a $36.00 price target on the stock. UBS Group upped their price objective on Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Truist Financial dropped their price objective on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating for the company in a report on Friday, April 5th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

About Coterra Energy

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.