FORA Capital LLC Increases Stock Position in Coterra Energy Inc. (NYSE:CTRA)

FORA Capital LLC raised its position in Coterra Energy Inc. (NYSE:CTRA) by 8.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 19,590 shares of the company’s stock after purchasing an additional 1,537 shares during the period. FORA Capital LLC’s holdings in Coterra Energy were worth $500,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of CTRA. Sterling Capital Management LLC raised its holdings in Coterra Energy by 5,744.3% in the 4th quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company’s stock worth $93,520,000 after purchasing an additional 3,599,042 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Coterra Energy by 117.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company’s stock valued at $123,036,000 after buying an additional 2,600,801 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Coterra Energy during the 4th quarter valued at approximately $61,461,000. Schroder Investment Management Group grew its stake in Coterra Energy by 18.2% in the 4th quarter. Schroder Investment Management Group now owns 11,776,525 shares of the company’s stock valued at $300,537,000 after acquiring an additional 1,809,615 shares during the period. Finally, Truist Financial Corp increased its holdings in Coterra Energy by 668.0% in the 4th quarter. Truist Financial Corp now owns 1,616,660 shares of the company’s stock worth $41,289,000 after acquiring an additional 1,406,170 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $23.40 on Friday. The business’s fifty day simple moving average is $26.30 and its 200-day simple moving average is $26.35. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm has a market cap of $17.88 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 0.59 and a beta of 0.33. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, beating 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 business had revenue of $924.00 million during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the business earned $0.51 earnings per share. The business’s revenue for the quarter was up 32.9% on a year-over-year basis. Equities analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders 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 annualized dividend and a dividend yield of 3.76%. Coterra Energy’s dividend payout ratio is currently 51.16%.

Insider Activity

In other news, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the completion of the transaction, the senior vice president now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the sale, the senior vice president now directly owns 106,114 shares in the company, valued at approximately $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. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CTRA. Morgan Stanley set a $28.00 target price on shares of Coterra Energy in a research note on Tuesday, April 15th. Piper Sandler increased their price objective on Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Wells Fargo & Company lifted their target price on shares of Coterra Energy from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Jefferies Financial Group increased their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.75.

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.