Sky Investment Group LLC Buys Shares of 8,409 Coterra Energy Inc. (NYSE:CTRA)

Sky Investment Group LLC purchased a new stake in Coterra Energy Inc. (NYSE:CTRAGet Rating) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,409 shares of the company’s stock, valued at approximately $227,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CTRA. CHURCHILL MANAGEMENT Corp bought a new position in Coterra Energy in the 1st quarter worth approximately $11,873,000. RBA Wealth Management LLC bought a new position in shares of Coterra Energy in the first quarter worth $1,631,000. Cascade Investment Advisors Inc. bought a new stake in shares of Coterra Energy during the first quarter valued at about $1,464,000. Redpoint Investment Management Pty Ltd acquired a new stake in Coterra Energy in the first quarter worth about $752,000. Finally, Capital Investment Advisors LLC bought a new position in Coterra Energy in the 1st quarter valued at about $706,000. 93.40% of the stock is currently owned by institutional investors.

NYSE:CTRA traded down $1.03 during trading hours on Thursday, hitting $26.00. 342,974 shares of the company’s stock traded hands, compared to its average volume of 12,264,757. The stock’s fifty day moving average price is $31.33 and its two-hundred day moving average price is $25.89. The firm has a market cap of $20.95 billion, a P/E ratio of 12.41, a P/E/G ratio of 0.12 and a beta of -0.22. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.54 and a current ratio of 1.57. Coterra Energy Inc. has a twelve month low of $14.28 and a twelve month high of $36.55.

Coterra Energy (NYSE:CTRAGet Rating) last issued its earnings results on Monday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.18. Coterra Energy had a return on equity of 24.79% and a net margin of 35.13%. During the same period in the prior year, the business posted $0.36 EPS. On average, equities research analysts predict that Coterra Energy Inc. will post 4.14 earnings per share for the current year.

The business also recently announced a None dividend, which was paid on Wednesday, May 25th. Shareholders of record on Friday, May 13th were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, May 12th. This represents a dividend yield of 1.8%. This is a positive change from Coterra Energy’s previous None dividend of $0.50. Coterra Energy’s dividend payout ratio (DPR) is 27.91%.

CTRA has been the subject of several recent analyst reports. Truist Financial increased their price objective on shares of Coterra Energy from $29.00 to $41.00 in a report on Thursday, April 21st. Credit Suisse Group lifted their price target on Coterra Energy from $30.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, June 13th. Morgan Stanley raised their target price on Coterra Energy from $25.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, April 22nd. Citigroup boosted their price target on shares of Coterra Energy from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, June 6th. Finally, Barclays raised their price objective on shares of Coterra Energy from $35.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $34.57.

In other news, EVP Stephen P. Bell sold 36,327 shares of the firm’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $35.41, for a total transaction of $1,286,339.07. Following the transaction, the executive vice president now owns 351,436 shares in the company, valued at approximately $12,444,348.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Francis Brian Barron sold 10,000 shares of Coterra Energy stock in a transaction on Friday, March 25th. The shares were sold at an average price of $28.04, for a total transaction of $280,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 106,327 shares of company stock worth $3,493,439. 1.60% of the stock is currently owned by corporate insiders.

About Coterra Energy (Get Rating)

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. It primarily focuses on the Marcellus Shale with approximately 177,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

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Institutional Ownership by Quarter for Coterra Energy (NYSE:CTRA)

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