Royal Bank of Canada Buys 477,739 Shares of Coterra Energy Inc. (NYSE:CTRA)

Royal Bank of Canada grew its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 15.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,628,900 shares of the company’s stock after buying an additional 477,739 shares during the period. Royal Bank of Canada’s holdings in Coterra Energy were worth $92,681,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTRA. Raiffeisen Bank International AG bought a new position in shares of Coterra Energy during the 4th quarter valued at about $356,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Coterra Energy by 2,241.4% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 84,430 shares of the company’s stock valued at $2,156,000 after purchasing an additional 80,824 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Coterra Energy by 4.8% during the 4th quarter. ProShare Advisors LLC now owns 154,031 shares of the company’s stock valued at $3,934,000 after purchasing an additional 6,997 shares in the last quarter. Quadcap Wealth Management LLC bought a new position in shares of Coterra Energy during the 4th quarter valued at about $486,000. Finally, Quantinno Capital Management LP lifted its holdings in shares of Coterra Energy by 54.6% during the 4th quarter. Quantinno Capital Management LP now owns 114,538 shares of the company’s stock valued at $2,925,000 after purchasing an additional 40,442 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Down 1.2%

CTRA stock opened at $24.50 on Tuesday. 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 has a market capitalization of $18.70 billion, a PE ratio of 14.76, 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 business’s 50 day simple moving average is $26.08 and its 200 day simple moving average is $26.43.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.09. The business had revenue of $924.00 million for the quarter, compared to analyst estimates of $1.92 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm’s revenue was up 32.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 EPS. As a group, research analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be paid a $0.22 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.88 annualized dividend and a yield of 3.59%. Coterra Energy’s dividend payout ratio (DPR) is presently 51.16%.

Insider Activity at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction on 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 sale, the senior vice president now directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. This represents a 21.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the sale, the senior vice president now owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. The trade was 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CTRA. Williams Trading set a $37.00 price objective on Coterra Energy in a report on Wednesday, March 5th. Mizuho cut their target price on Coterra Energy from $38.00 to $36.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Scotiabank cut their target price on 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. Raymond James cut their target price on Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. Finally, Bank of America cut their target price on Coterra Energy from $34.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $33.50.

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.