Coterra Energy Inc. (NYSE:CTRA) Shares Sold by DDD Partners LLC

DDD Partners LLC trimmed its position in Coterra Energy Inc. (NYSE:CTRA) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 413,711 shares of the company’s stock after selling 3,419 shares during the period. Coterra Energy makes up approximately 1.4% of DDD Partners LLC’s holdings, making the stock its 28th biggest holding. DDD Partners LLC owned 0.06% of Coterra Energy worth $10,558,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp raised its holdings in shares of Coterra Energy by 2.1% in the third quarter. Van ECK Associates Corp now owns 113,399 shares of the company’s stock worth $3,068,000 after buying an additional 2,376 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Coterra Energy during the third quarter worth $1,461,000. Nordea Investment Management AB raised its holdings in shares of Coterra Energy by 3.9% during the third quarter. Nordea Investment Management AB now owns 803,979 shares of the company’s stock worth $21,844,000 after purchasing an additional 30,237 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Coterra Energy by 9.8% during the third quarter. Royal Bank of Canada now owns 3,336,830 shares of the company’s stock worth $90,261,000 after purchasing an additional 296,676 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Coterra Energy by 54.8% during the third quarter. American Century Companies Inc. now owns 753,719 shares of the company’s stock worth $20,388,000 after purchasing an additional 266,700 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Up 1.5 %

Shares of NYSE CTRA opened at $27.87 on Thursday. Coterra Energy Inc. has a 12-month low of $22.91 and a 12-month high of $29.89. The stock has a market cap of $20.95 billion, a PE ratio of 13.02 and a beta of 0.20. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average of $25.64 and a 200 day moving average of $26.31.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.06). The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. As a group, sell-side analysts predict that Coterra Energy Inc. will post 1.98 EPS for the current fiscal year.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th will be issued a $0.21 dividend. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Wednesday, March 13th. Coterra Energy’s dividend payout ratio is currently 39.25%.

Insider Transactions at Coterra Energy

In related news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the transaction, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the sale, the vice president now owns 93,988 shares in the company, valued at approximately $2,449,327.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the sale, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

CTRA has been the topic of several analyst reports. Piper Sandler raised their price target on shares of Coterra Energy from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Bank of America upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Friday, January 5th. Citigroup upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $28.00 to $30.00 in a research report on Monday, December 11th. UBS Group raised their price target on shares of Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, Wells Fargo & Company upgraded shares of Coterra Energy from an “equal weight” rating to an “overweight” rating and set a $30.00 price target on the stock in a research report on Thursday, December 14th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.85.

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.