Foster & Motley Inc. Grows Position in Coterra Energy Inc. (NYSE:CTRA)

Foster & Motley Inc. boosted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 63.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,055 shares of the company’s stock after acquiring an additional 12,044 shares during the period. Foster & Motley Inc.’s holdings in Coterra Energy were worth $793,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CTRA. Vontobel Holding Ltd. bought a new position in Coterra Energy during the third quarter valued at approximately $932,000. AE Wealth Management LLC lifted its position in Coterra Energy by 47.1% during the third quarter. AE Wealth Management LLC now owns 47,891 shares of the company’s stock valued at $1,295,000 after purchasing an additional 15,325 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Coterra Energy by 75.7% in the 3rd quarter. IFP Advisors Inc now owns 2,489 shares of the company’s stock worth $67,000 after buying an additional 1,072 shares in the last quarter. Ritholtz Wealth Management bought a new stake in shares of Coterra Energy in the 3rd quarter worth about $501,000. Finally, SG Americas Securities LLC raised its position in shares of Coterra Energy by 135.5% during the 3rd quarter. SG Americas Securities LLC now owns 89,569 shares of the company’s stock valued at $2,423,000 after buying an additional 51,541 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Trading Up 0.7 %

Shares of NYSE CTRA opened at $28.14 on Wednesday. Coterra Energy Inc. has a twelve month low of $22.91 and a twelve month high of $29.89. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $26.86 and a two-hundred day simple moving average of $26.41. The firm has a market cap of $21.15 billion, a PE ratio of 13.15 and a beta of 0.21.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. Analysts expect that Coterra Energy Inc. will post 1.88 earnings per share for the current fiscal year.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, March 13th. 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 2.99%. Coterra Energy’s dividend payout ratio (DPR) is currently 39.25%.

Insider Activity at Coterra Energy

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the company’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 in the company, valued at $4,783,071.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 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 this link. Also, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction 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 disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Stifel Nicolaus dropped their price target on Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Bank of America raised Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Friday, January 5th. Mizuho restated a “buy” rating and set a $34.00 price target on shares of Coterra Energy in a report on Wednesday, April 3rd. Truist Financial cut their price objective on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Finally, Stephens restated an “overweight” rating and issued a $39.00 target price on shares of Coterra Energy in a report on Tuesday, January 23rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and an average 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.