18,254 Shares in Coterra Energy Inc. (NYSE:CTRA) Bought by Principal Securities Inc.

Principal Securities Inc. acquired a new stake in Coterra Energy Inc. (NYSE:CTRAFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,254 shares of the company’s stock, valued at approximately $466,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTRA. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Coterra Energy by 0.8% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,105,116 shares of the company’s stock worth $56,943,000 after acquiring an additional 17,471 shares in the last quarter. Perigon Wealth Management LLC lifted its holdings in Coterra Energy by 9.1% during the 3rd quarter. Perigon Wealth Management LLC now owns 11,603 shares of the company’s stock worth $314,000 after buying an additional 969 shares during the last quarter. Allworth Financial LP grew its position in shares of Coterra Energy by 25.2% in the 3rd quarter. Allworth Financial LP now owns 23,670 shares of the company’s stock worth $640,000 after acquiring an additional 4,760 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Coterra Energy by 149.0% in the 3rd quarter. Teacher Retirement System of Texas now owns 593,551 shares of the company’s stock valued at $16,056,000 after acquiring an additional 355,210 shares during the last quarter. Finally, New Mexico Educational Retirement Board increased its holdings in shares of Coterra Energy by 2.9% in the 3rd quarter. New Mexico Educational Retirement Board now owns 39,392 shares of the company’s stock valued at $1,066,000 after acquiring an additional 1,100 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction on 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 directly owns 93,988 shares in the company, valued at approximately $2,449,327.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy 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 transaction, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Todd M. Roemer sold 55,000 shares of the business’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 transaction of $1,488,300.00. Following the sale, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Coterra Energy Price Performance

NYSE:CTRA opened at $28.16 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 1.49 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average price is $27.60 and its 200 day moving average price is $26.35. Coterra Energy Inc. has a 52-week low of $22.91 and a 52-week high of $29.89. The firm has a market cap of $20.96 billion, a P/E ratio of 16.28 and a beta of 0.22.

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

Coterra Energy Dividend Announcement

The business 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 $0.21 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.84 annualized dividend and a dividend yield of 2.98%. Coterra Energy’s dividend payout ratio is currently 48.55%.

Analyst Ratings Changes

Several analysts have weighed in on CTRA shares. Scotiabank boosted their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Raymond James increased their price objective on shares of Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna upped their target price on Coterra Energy from $32.00 to $33.00 and gave the company a “positive” rating in a report on Tuesday, May 7th. Morgan Stanley raised their price target on Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. Finally, Mizuho upped their price objective on Coterra Energy from $37.00 to $41.00 and gave the stock a “buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.13.

Get Our Latest Analysis on Coterra Energy

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.

See Also

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Institutional Ownership by Quarter for Coterra Energy (NYSE:CTRA)

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