1900 Wealth Management LLC Decreases Position in Coterra Energy Inc. (NYSE:CTRA)

1900 Wealth Management LLC lowered its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 6.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 51,567 shares of the company’s stock after selling 3,442 shares during the quarter. 1900 Wealth Management LLC’s holdings in Coterra Energy were worth $1,316,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SouthState Corp boosted its stake in shares of 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 acquiring an additional 454 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in shares of Coterra Energy in the fourth quarter valued at about $33,000. VisionPoint Advisory Group LLC grew its position in shares of Coterra Energy by 133.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock valued at $35,000 after purchasing an additional 740 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in Coterra Energy during the fourth quarter worth about $33,000. Finally, Stone House Investment Management LLC grew its position in Coterra Energy by 32.4% during the fourth quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock worth $46,000 after buying an additional 438 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Down 0.1 %

NYSE CTRA traded down $0.04 on Tuesday, reaching $27.90. The company had a trading volume of 1,010,040 shares, compared to its average volume of 6,818,028. The firm has a market capitalization of $20.98 billion, a price-to-earnings ratio of 13.06 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 Inc. has a 1-year low of $22.91 and a 1-year high of $29.89. The company’s fifty day moving average is $26.78 and its 200-day moving average is $26.40.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 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 the consensus estimate of $1.54 billion. On average, research analysts forecast that Coterra Energy Inc. will post 1.93 earnings per share for the current fiscal year.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.01%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 13th. Coterra Energy’s dividend payout ratio is presently 39.25%.

Analyst Ratings Changes

A number of research firms have weighed in on CTRA. Barclays began coverage on Coterra Energy in a report on Wednesday, April 10th. They set an “overweight” rating and a $36.00 price objective on the stock. Scotiabank lifted their price objective on Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Stephens reaffirmed an “overweight” rating and set a $39.00 price objective on shares of Coterra Energy in a report on Tuesday, January 23rd. Bank of America upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Friday, January 5th. Finally, Morgan Stanley boosted their price objective on shares of Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Two 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.47.

Insider Activity

In other news, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following the sale, the vice president now directly owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction dated 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 SEC, which can be accessed through this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the transaction, the vice president now 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 owned by insiders.

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.