Meritage Portfolio Management Sells 776 Shares of Coterra Energy Inc. (NYSE:CTRA)

Meritage Portfolio Management cut its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 6.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,450 shares of the company’s stock after selling 776 shares during the quarter. Meritage Portfolio Management’s holdings in Coterra Energy were worth $292,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Beacon Investment Advisors LLC increased its position in Coterra Energy by 0.7% in the third quarter. Beacon Investment Advisors LLC now owns 62,447 shares of the company’s stock worth $1,689,000 after buying an additional 422 shares during the last quarter. Stone House Investment Management LLC increased its holdings in 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 acquiring an additional 438 shares during the last quarter. SouthState Corp raised its stake in Coterra Energy by 75.4% in the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after acquiring an additional 454 shares during the period. Trust Co. of Vermont lifted its holdings in Coterra Energy by 1.9% during the third quarter. Trust Co. of Vermont now owns 26,314 shares of the company’s stock valued at $712,000 after purchasing an additional 503 shares during the last quarter. Finally, Cascade Investment Advisors Inc. lifted its holdings in Coterra Energy by 1.1% during the fourth quarter. Cascade Investment Advisors Inc. now owns 51,140 shares of the company’s stock valued at $1,305,000 after purchasing an additional 535 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CTRA shares. Barclays assumed coverage on shares of Coterra Energy in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price target on the stock. Truist Financial cut their price target on Coterra Energy from $30.00 to $27.00 and set a “hold” rating for the company in a report on Friday, April 5th. Susquehanna lifted their price target on Coterra Energy from $30.00 to $32.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Bank of America raised Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Friday, January 5th. Finally, Raymond James lifted their target price on 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 stock. According to data from MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and an average price target of $32.47.

Coterra Energy Trading Down 0.5 %

Shares of CTRA opened at $28.28 on Friday. Coterra Energy Inc. has a 1-year low of $22.91 and a 1-year high of $29.89. The company has a market capitalization of $21.26 billion, a P/E ratio of 13.21 and a beta of 0.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18. The firm’s 50 day simple moving average is $27.10 and its 200 day simple moving average is $26.44.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Sell-side analysts forecast that Coterra Energy Inc. will post 1.82 earnings per share for the current fiscal year.

Coterra Energy Increases Dividend

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

Insiders Place Their Bets

In other news, 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 transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Michael D. Deshazer sold 14,000 shares of the business’s 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 completion of the sale, the vice president now directly owns 93,988 shares in the company, valued at approximately $2,449,327.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction 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 transaction, the chief accounting officer now directly owns 176,758 shares in the company, valued at approximately $4,783,071.48. The disclosure for this sale can be found here. Corporate 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.