Balentine LLC Boosts Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Balentine LLC grew its holdings in Coterra Energy Inc. (NYSE:CTRA) by 8.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,863 shares of the company’s stock after purchasing an additional 917 shares during the period. Balentine LLC’s holdings in Coterra Energy were worth $303,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CTRA. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Coterra Energy by 5.0% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,066 shares of the company’s stock valued at $570,000 after purchasing an additional 1,000 shares during the period. Dai ichi Life Insurance Company Ltd grew its position in shares of Coterra Energy by 321.8% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 39,324 shares of the company’s stock worth $1,064,000 after buying an additional 30,000 shares in the last quarter. Private Advisor Group LLC grew its position in shares of Coterra Energy by 273.9% during the 3rd quarter. Private Advisor Group LLC now owns 89,212 shares of the company’s stock worth $2,413,000 after buying an additional 65,353 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Coterra Energy by 408.2% in the third quarter. Larson Financial Group LLC now owns 2,292 shares of the company’s stock valued at $62,000 after acquiring an additional 1,841 shares in the last quarter. Finally, US Bancorp DE lifted its stake in Coterra Energy by 2.0% in the third quarter. US Bancorp DE now owns 1,317,212 shares of the company’s stock worth $35,631,000 after acquiring an additional 25,839 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Stock Down 1.3 %

Shares of CTRA stock opened at $27.49 on Thursday. Coterra Energy Inc. has a twelve month low of $22.91 and a twelve month high of $29.89. The stock has a market cap of $20.46 billion, a P/E ratio of 15.89 and a beta of 0.22. The stock has a 50 day moving average of $27.78 and a 200 day moving average of $26.37. The company has a current ratio of 1.49, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. As a group, sell-side analysts expect that Coterra Energy Inc. will post 1.82 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Wednesday, May 15th. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CTRA shares. Barclays assumed coverage on Coterra Energy in a report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price target on the stock. Susquehanna raised their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the company a “positive” rating in a research note on Tuesday, May 7th. Truist Financial raised Coterra Energy from a “hold” rating to a “buy” rating and upped their price target for the stock from $27.00 to $35.00 in a research report on Thursday, May 16th. Mizuho increased their price target on Coterra Energy from $37.00 to $41.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, Morgan Stanley boosted their price target on Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.67.

Insider Buying and Selling

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy 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 sale, the chief accounting officer now owns 176,758 shares in the company, valued at $4,783,071.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Michael D. Deshazer sold 14,000 shares of the business’s 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 sale, the vice president now directly owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

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.