CX Institutional Sells 471 Shares of Coterra Energy Inc. (NYSE:CTRA)

CX Institutional cut its stake in Coterra Energy Inc. (NYSE:CTRA) by 4.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,586 shares of the company’s stock after selling 471 shares during the quarter. CX Institutional’s holdings in Coterra Energy were worth $277,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CTRA. Sterling Capital Management LLC grew its stake in shares of Coterra Energy by 5,744.3% in the fourth quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company’s stock worth $93,520,000 after acquiring an additional 3,599,042 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Coterra Energy by 117.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company’s stock worth $123,036,000 after acquiring an additional 2,600,801 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Coterra Energy in the fourth quarter worth approximately $61,461,000. Zurich Insurance Group Ltd FI bought a new stake in shares of Coterra Energy in the fourth quarter worth approximately $57,877,000. Finally, Man Group plc grew its stake in shares of Coterra Energy by 81.4% in the fourth quarter. Man Group plc now owns 4,842,621 shares of the company’s stock worth $123,681,000 after acquiring an additional 2,172,931 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $26.70 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The firm has a fifty day moving average price of $24.99 and a 200 day moving average price of $26.35. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The firm has a market cap of $20.38 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 0.59 and a beta of 0.34.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.09. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm had revenue of $924.00 million during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the business earned $0.51 earnings per share. Coterra Energy’s revenue for the quarter was up 32.9% on a year-over-year basis. As a group, sell-side analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy’s payout ratio is 51.16%.

Insider Activity at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the transaction, the senior vice president now owns 106,114 shares of the company’s stock, valued at $3,086,856.26. This trade represents a 19.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Williams Trading set a $37.00 target price on shares of Coterra Energy in a research report on Wednesday, March 5th. Wells Fargo & Company boosted their target price on shares of Coterra Energy from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Morgan Stanley set a $28.00 target price on shares of Coterra Energy in a research report on Tuesday, April 15th. UBS Group cut their target price on shares of Coterra Energy from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Finally, Pickering Energy Partners lowered shares of Coterra Energy from an “outperform” rating to a “neutral” rating in a research report on Tuesday, May 20th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.50.

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.