Coterra Energy Inc. (NYSE:CTRA) Stock Position Lifted by Range Financial Group LLC

Range Financial Group LLC lifted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 24.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 61,545 shares of the company’s stock after purchasing an additional 11,933 shares during the quarter. Range Financial Group LLC’s holdings in Coterra Energy were worth $1,779,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dark Forest Capital Management LP bought a new position in shares of Coterra Energy in the fourth quarter worth $942,000. State of Tennessee Department of Treasury grew its stake in shares of Coterra Energy by 7.1% in the fourth quarter. State of Tennessee Department of Treasury now owns 472,799 shares of the company’s stock worth $12,075,000 after purchasing an additional 31,425 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Coterra Energy in the fourth quarter worth $641,000. Intech Investment Management LLC grew its stake in shares of Coterra Energy by 56.7% in the fourth quarter. Intech Investment Management LLC now owns 67,858 shares of the company’s stock worth $1,733,000 after purchasing an additional 24,560 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of Coterra Energy by 3.9% in the fourth quarter. Allworth Financial LP now owns 18,409 shares of the company’s stock worth $470,000 after purchasing an additional 689 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Insider Buying and Selling

In other news, 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 completion of the sale, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at $3,086,856.26. This trade represents a 19.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.70% of the company’s stock.

Coterra Energy Trading Up 3.1%

NYSE:CTRA opened at $25.59 on Monday. 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 Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The firm has a market capitalization of $19.53 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 0.59 and a beta of 0.34. The stock has a fifty day simple moving average of $25.00 and a 200 day simple moving average of $26.38.

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, topping the consensus estimate of $0.71 by $0.09. The firm had revenue of $924.00 million during the quarter, compared to the consensus estimate of $1.92 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 EPS. Sell-side analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy’s dividend payout ratio is currently 51.16%.

Analyst Ratings Changes

CTRA has been the subject of several recent analyst reports. Morgan Stanley set a $28.00 price target on Coterra Energy in a research note on Tuesday, April 15th. Susquehanna decreased their target price on Coterra Energy from $34.00 to $32.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. The Goldman Sachs Group raised their target price on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Williams Trading set a $37.00 target price on Coterra Energy in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company raised their target price on Coterra Energy from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Four investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $33.50.

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.