Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC decreased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 99.3% during the fourth quarter, HoldingsChannel reports. The firm owned 11,388 shares of the company’s stock after selling 1,509,144 shares during the quarter. Frontier Capital Management Co. LLC’s holdings in Coterra Energy were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Trust Co. NA increased its holdings in shares of Coterra Energy by 20.0% in the fourth quarter. Private Trust Co. NA now owns 2,140 shares of the company’s stock valued at $55,000 after purchasing an additional 356 shares during the period. CENTRAL TRUST Co raised its position in Coterra Energy by 1.8% during the fourth quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock valued at $559,000 after acquiring an additional 389 shares in the last quarter. Arkadios Wealth Advisors raised its position in Coterra Energy by 3.8% during the fourth quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock valued at $288,000 after acquiring an additional 413 shares in the last quarter. Blue Trust Inc. lifted its holdings in Coterra Energy by 5.8% in the fourth quarter. Blue Trust Inc. now owns 7,620 shares of the company’s stock valued at $182,000 after acquiring an additional 420 shares during the period. Finally, New York Life Investment Management LLC boosted its position in Coterra Energy by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 99,584 shares of the company’s stock worth $2,543,000 after purchasing an additional 421 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the transaction, the senior vice president now owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total transaction of $748,572.97. Following the sale, the senior vice president now directly owns 106,114 shares in the company, valued at $3,086,856.26. This represents a 19.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CTRA. Wells Fargo & Company increased their price target on Coterra Energy from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Scotiabank decreased their price target on shares of Coterra Energy from $38.00 to $33.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Jefferies Financial Group lifted their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday, February 4th. Barclays reduced their target price on shares of Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Morgan Stanley set a $28.00 price target on Coterra Energy in a report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.75.

Coterra Energy Trading Up 1.2 %

NYSE CTRA opened at $23.40 on Friday. The firm’s fifty day moving average is $26.30 and its two-hundred day moving average is $26.35. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. 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 market cap of $17.88 billion, a PE ratio of 14.10, a P/E/G ratio of 0.59 and a beta of 0.33.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.09. The company had revenue of $924.00 million for the quarter, compared to analysts’ expectations of $1.92 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. Coterra Energy’s revenue was up 32.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 EPS. Analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 3.76%. Coterra Energy’s payout ratio is 51.16%.

Coterra Energy Company 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.