Burney Co. Sells 9,406 Shares of Coterra Energy Inc. (NYSE:CTRA)

Burney Co. cut its stake in Coterra Energy Inc. (NYSE:CTRA) by 38.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,225 shares of the company’s stock after selling 9,406 shares during the quarter. Burney Co.’s holdings in Coterra Energy were worth $389,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in Coterra Energy by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after acquiring an additional 15,736,247 shares during the period. Holocene Advisors LP grew its position in shares of Coterra Energy by 187.2% in the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock valued at $108,572,000 after purchasing an additional 2,954,675 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Coterra Energy by 160.1% during the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock worth $80,154,000 after purchasing an additional 1,784,192 shares during the period. Weiss Asset Management LP acquired a new stake in Coterra Energy during the 3rd quarter worth approximately $28,380,000. Finally, Marshall Wace LLP boosted its stake in Coterra Energy by 5,325.5% in the 2nd quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock valued at $30,632,000 after purchasing an additional 1,127,399 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Trading Down 1.1 %

NYSE CTRA opened at $29.51 on Friday. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The business’s fifty day moving average is $26.05 and its 200 day moving average is $25.03. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The company has a market cap of $21.74 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 0.98 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 earnings per share. As a group, sell-side analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.85%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is currently 50.60%.

Insider Activity

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the completion of the transaction, the senior vice president now owns 72,409 shares in the company, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the sale, the senior vice president now directly owns 77,075 shares in the company, valued at approximately $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on CTRA shares. Barclays increased their price objective on Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Morgan Stanley lifted their price objective on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Scotiabank decreased their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Stephens lifted their price target on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Piper Sandler reduced their price target on Coterra Energy from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.76.

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.