Waverly Advisors LLC Boosts Stake in Coterra Energy Inc. (NYSE:CTRA)

Waverly Advisors LLC raised its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 143,626 shares of the company’s stock after acquiring an additional 4,589 shares during the period. Waverly Advisors LLC’s holdings in Coterra Energy were worth $3,668,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CTRA. Barclays PLC grew its position in Coterra Energy by 3.1% during the third quarter. Barclays PLC now owns 2,147,263 shares of the company’s stock valued at $51,425,000 after acquiring an additional 64,753 shares during the period. Merit Financial Group LLC purchased a new stake in shares of Coterra Energy in the fourth quarter worth about $257,000. Arkadios Wealth Advisors boosted its position in shares of Coterra Energy by 3.8% in the fourth quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock worth $288,000 after buying an additional 413 shares during the period. HB Wealth Management LLC boosted its position in shares of Coterra Energy by 12.5% in the fourth quarter. HB Wealth Management LLC now owns 9,583 shares of the company’s stock worth $245,000 after buying an additional 1,061 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Coterra Energy by 31.4% in the fourth quarter. UMB Bank n.a. now owns 4,354 shares of the company’s stock worth $111,000 after buying an additional 1,041 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CTRA. The Goldman Sachs Group upped their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Raymond James decreased their target price on Coterra Energy from $41.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, March 12th. Wells Fargo & Company boosted their price target on Coterra Energy from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Johnson Rice upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and boosted their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. Finally, Pickering Energy Partners cut Coterra Energy from an “outperform” rating to a “neutral” rating in a research note on Tuesday. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $33.50.

Coterra Energy Trading Down 1.5%

Shares of NYSE CTRA opened at $24.50 on Thursday. The stock’s 50 day moving average price is $25.98 and its two-hundred day moving average price is $26.40. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The stock has a market capitalization of $18.70 billion, a P/E ratio of 14.76, a PEG ratio of 0.59 and a beta of 0.33. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

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 firm had revenue of $924.00 million for the quarter, compared to analysts’ expectations of $1.92 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. Coterra Energy’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 earnings per share. On average, analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Thursday, May 15th. Coterra Energy’s payout ratio is 51.16%.

Insider Transactions at Coterra Energy

In other news, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction that occurred on 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 approximately $3,086,856.26. This represents a 19.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was 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 directly owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This trade represents a 21.82% 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.

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.