Federated Hermes Inc. Raises Stake in Coterra Energy Inc. (NYSE:CTRA)

Federated Hermes Inc. grew its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 54.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,854 shares of the company’s stock after acquiring an additional 8,099 shares during the quarter. Federated Hermes Inc.’s holdings in Coterra Energy were worth $583,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. SouthState Corp boosted its holdings in 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 acquiring an additional 454 shares during the period. Tennessee Valley Asset Management Partners bought a new position in shares of Coterra Energy in the fourth quarter worth approximately $33,000. VisionPoint Advisory Group LLC increased its stake in shares of Coterra Energy by 133.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after buying an additional 740 shares during the period. Stone House Investment Management LLC raised its holdings in Coterra Energy by 32.4% during the 4th quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock valued at $46,000 after buying an additional 438 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Coterra Energy during the 3rd quarter valued at $49,000. 87.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on CTRA. Raymond James boosted their price objective 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. UBS Group raised their target price on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Morgan Stanley boosted their price target on shares of Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Bank of America raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Friday, January 5th. Finally, Piper Sandler lifted their price objective on Coterra Energy from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and a consensus target price of $32.67.

Insider Activity at Coterra Energy

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

Coterra Energy Price Performance

Shares of CTRA opened at $28.19 on Friday. The firm has a market cap of $21.19 billion, a PE ratio of 13.17 and a beta of 0.22. Coterra Energy Inc. has a 1-year low of $22.91 and a 1-year high of $29.89. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12. The firm has a fifty day simple moving average of $27.30 and a two-hundred day simple moving average of $26.40.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. On average, equities analysts anticipate that Coterra Energy Inc. will post 1.82 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Wednesday, May 15th. Coterra Energy’s payout ratio is 39.25%.

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.