OLD National Bancorp IN Raises Stock Position in Coterra Energy Inc. (NYSE:CTRA)

OLD National Bancorp IN increased its position in Coterra Energy Inc. (NYSE:CTRA) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 304,701 shares of the company’s stock after purchasing an additional 2,503 shares during the quarter. OLD National Bancorp IN’s holdings in Coterra Energy were worth $7,776,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Beacon Investment Advisors LLC raised its position in shares of Coterra Energy by 0.7% in the 3rd quarter. Beacon Investment Advisors LLC now owns 62,447 shares of the company’s stock worth $1,689,000 after acquiring an additional 422 shares in the last quarter. Stone House Investment Management LLC boosted its position in shares of Coterra Energy by 32.4% in 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 in the last quarter. SouthState Corp boosted its position in shares of Coterra Energy by 75.4% in the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after purchasing an additional 454 shares in the last quarter. Trust Co. of Vermont grew its stake in Coterra Energy by 1.9% during the 3rd quarter. Trust Co. of Vermont now owns 26,314 shares of the company’s stock worth $712,000 after buying an additional 503 shares during the last quarter. Finally, Miller Howard Investments Inc. NY increased its position in Coterra Energy by 0.9% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 58,913 shares of the company’s stock valued at $1,594,000 after buying an additional 523 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Trading Up 0.3 %

NYSE:CTRA traded up $0.07 during trading hours on Monday, hitting $27.82. The company had a trading volume of 481,513 shares, compared to its average volume of 6,829,926. Coterra Energy Inc. has a 1 year low of $22.91 and a 1 year high of $29.89. The company has a market cap of $20.92 billion, a P/E ratio of 12.97 and a beta of 0.21. The company has a 50-day moving average of $26.71 and a 200 day moving average of $26.39. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Sell-side analysts expect that Coterra Energy Inc. will post 1.93 earnings per share for the current year.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.21 per share. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.84 annualized dividend and a yield of 3.02%. Coterra Energy’s dividend payout ratio (DPR) is 39.25%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Stifel Nicolaus lowered their price target on Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Scotiabank lifted their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Susquehanna upped their price target on shares of Coterra Energy from $30.00 to $32.00 and gave the company a “positive” rating in a research note on Monday. JPMorgan Chase & Co. lifted their price objective on shares of Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Barclays started coverage on shares of Coterra Energy in a report on Wednesday, April 10th. They set an “overweight” rating and a $36.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $32.47.

Insider Buying and Selling at Coterra Energy

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

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.