Highlander Capital Management LLC Takes Position in Coterra Energy Inc. (NYSE:CTRA)

Highlander Capital Management LLC acquired a new stake in shares of Coterra Energy Inc. (NYSE:CTRA – Get Rating) during the first quarter, HoldingsChannel.com reports. The fund acquired 3,000 shares of the company’s stock, valued at approximately $81,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTRA. Victory Capital Management Inc. bought a new position in shares of Coterra Energy during the 1st quarter worth approximately $510,135,000. DAVENPORT & Co LLC bought a new position in Coterra Energy in the 1st quarter valued at $178,087,000. Sound Shore Management Inc. CT bought a new position in Coterra Energy in the 1st quarter valued at $85,122,000. Los Angeles Capital Management LLC bought a new position in Coterra Energy in the 1st quarter valued at $79,183,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in Coterra Energy in the 1st quarter valued at $56,592,000. Institutional investors and hedge funds own 93.40% of the company’s stock.

Insider Activity at Coterra Energy

In other Coterra Energy news, SVP Francis Brian Barron sold 50,000 shares of the business’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $31.83, for a total value of $1,591,500.00. Following the transaction, the senior vice president now owns 291,212 shares of the company’s stock, valued at $9,269,277.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Stephen P. Bell sold 36,327 shares of the company’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $35.41, for a total transaction of $1,286,339.07. Following the transaction, the executive vice president now owns 351,436 shares of the company’s stock, valued at approximately $12,444,348.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Francis Brian Barron sold 50,000 shares of the company’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $31.83, for a total value of $1,591,500.00. Following the transaction, the senior vice president now directly owns 291,212 shares in the company, valued at approximately $9,269,277.96. The disclosure for this sale can be found here. Insiders have sold a total of 96,327 shares of company stock valued at $3,213,039 over the last 90 days. Insiders own 1.60% of the company’s stock.

Coterra Energy Trading Up 2.0 %

Shares of CTRA stock opened at $27.93 on Friday. The company has a market cap of $22.22 billion, a P/E ratio of 7.76, a PEG ratio of 0.11 and a beta of 0.07. The stock has a 50 day simple moving average of $29.28 and a two-hundred day simple moving average of $27.47. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.54 and a current ratio of 1.80. Coterra Energy Inc. has a fifty-two week low of $14.28 and a fifty-two week high of $36.55.

Coterra Energy (NYSE:CTRA – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.10 by $0.25. Coterra Energy had a return on equity of 28.44% and a net margin of 41.04%. During the same quarter in the prior year, the business earned $0.25 earnings per share. Research analysts forecast that Coterra Energy Inc. will post 4.62 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 25th. Investors of record on Monday, August 15th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, August 12th. This represents a $0.60 annualized dividend and a dividend yield of 2.15%. Coterra Energy’s payout ratio is 16.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CTRA shares. MKM Partners reiterated a “neutral” rating and issued a $26.00 price objective on shares of Coterra Energy in a research report on Wednesday, July 20th. Wells Fargo & Company lifted their target price on Coterra Energy from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Monday, July 11th. Susquehanna lowered Coterra Energy from a “positive” rating to a “neutral” rating and boosted their price target for the company from $26.00 to $32.00 in a report on Monday, April 25th. Truist Financial boosted their price target on Coterra Energy from $29.00 to $41.00 in a report on Thursday, April 21st. Finally, Barclays dropped their target price on Coterra Energy from $41.00 to $37.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy has a consensus rating of “Hold” and an average target price of $33.07.

About Coterra Energy

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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. It primarily focuses on the Marcellus Shale with approximately 177,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.