Alaska Permanent Fund Corp Boosts Holdings in Coterra Energy Inc. (NYSE:CTRA)

Alaska Permanent Fund Corp lifted its stake in Coterra Energy Inc. (NYSE:CTRA) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,170 shares of the company’s stock after buying an additional 1,270 shares during the period. Alaska Permanent Fund Corp’s holdings in Coterra Energy were worth $2,454,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. SouthState Corp grew its position in Coterra Energy by 75.4% during the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after purchasing an additional 454 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new position in Coterra Energy during the 4th quarter worth $33,000. Tennessee Valley Asset Management Partners purchased a new position in Coterra Energy during the 4th quarter worth $33,000. VisionPoint Advisory Group LLC grew its position in Coterra Energy by 133.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after purchasing an additional 740 shares during the last quarter. Finally, Stone House Investment Management LLC grew its position in Coterra Energy by 32.4% during the 4th quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock worth $46,000 after purchasing an additional 438 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Trading Down 0.7 %

Coterra Energy stock traded down $0.21 during trading on Thursday, reaching $28.25. The company had a trading volume of 395,832 shares, compared to its average volume of 6,764,057. Coterra Energy Inc. has a 12-month low of $22.91 and a 12-month high of $29.89. The stock’s 50 day moving average price is $26.95 and its two-hundred day moving average price is $26.42. The firm has a market capitalization of $21.24 billion, a price-to-earnings ratio of 13.29 and a beta of 0.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. As a group, equities analysts expect that Coterra Energy Inc. will post 1.87 earnings per share for the current fiscal year.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.21 dividend. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Wednesday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is presently 39.25%.

Insider Activity at Coterra Energy

In other news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction that occurred 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 transaction, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Todd M. Roemer sold 55,000 shares of the business’s 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 completion of the sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at $4,783,071.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the completion of the sale, the vice president now directly owns 93,988 shares in the company, valued at approximately $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CTRA shares. Stephens reaffirmed an “overweight” rating and issued a $39.00 target price on shares of Coterra Energy in a report on Tuesday, January 23rd. Piper Sandler lifted their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Mizuho reaffirmed a “buy” rating and issued a $34.00 target price on shares of Coterra Energy in a report on Wednesday, April 3rd. Morgan Stanley lifted their target price on shares of Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. Finally, Raymond James lifted their target price on shares of Coterra Energy from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.47.

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.