Cary Street Partners Financial LLC Purchases New Stake in Coterra Energy Inc. (NYSE:CTRA)

Cary Street Partners Financial LLC acquired a new position in Coterra Energy Inc. (NYSE:CTRA) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 4,492 shares of the company’s stock, valued at approximately $115,000.

Other institutional investors have also recently bought and sold shares of the company. Bayesian Capital Management LP purchased a new stake in shares of Coterra Energy in the fourth quarter worth approximately $3,790,000. Black Maple Capital Management LP lifted its position in Coterra Energy by 307.7% in the 4th quarter. Black Maple Capital Management LP now owns 53,000 shares of the company’s stock worth $1,354,000 after buying an additional 40,000 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Coterra Energy by 19.3% during the 4th quarter. Ameriprise Financial Inc. now owns 1,340,525 shares of the company’s stock valued at $34,237,000 after buying an additional 216,865 shares during the period. Algert Global LLC acquired a new stake in shares of Coterra Energy during the 4th quarter valued at $374,000. Finally, American Trust Investment Advisors LLC purchased a new position in shares of Coterra Energy during the 4th quarter valued at $3,640,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

NYSE:CTRA opened at $23.40 on Monday. The firm has a market capitalization of $17.88 billion, a PE ratio of 14.10, a PEG ratio of 0.59 and a beta of 0.33. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The firm’s fifty day simple moving average is $26.30 and its 200 day simple moving average is $26.39.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.09. The company had revenue of $924.00 million during 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%. The business’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 earnings per share. On average, sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

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

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of research firms recently issued reports on CTRA. Williams Trading set a $37.00 price objective on Coterra Energy in a research report on Wednesday, March 5th. UBS Group reduced their price target on Coterra Energy from $32.00 to $30.00 and set a “buy” rating for the company in a report on Friday. Piper Sandler boosted their price target on Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Morgan Stanley set a $28.00 price objective on shares of Coterra Energy in a research report on Tuesday, April 15th. Finally, Bank of America reduced their target price on shares of Coterra Energy from $34.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, April 29th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $33.75.

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.