Allworth Financial LP Raises Holdings in Coterra Energy Inc. (NYSE:CTRA)

Allworth Financial LP grew its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,378 shares of the company’s stock after purchasing an additional 1,708 shares during the quarter. Allworth Financial LP’s holdings in Coterra Energy were worth $648,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in shares of Coterra Energy during the fourth quarter worth about $1,396,000. Private Trust Co. NA grew its holdings in shares of Coterra Energy by 155.3% during the fourth quarter. Private Trust Co. NA now owns 3,574 shares of the company’s stock worth $91,000 after buying an additional 2,174 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Coterra Energy by 0.4% during the fourth quarter. Arizona State Retirement System now owns 207,517 shares of the company’s stock worth $5,296,000 after buying an additional 868 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of Coterra Energy by 12.6% during the fourth quarter. Ballentine Partners LLC now owns 18,894 shares of the company’s stock worth $482,000 after buying an additional 2,121 shares during the last quarter. Finally, Oak Thistle LLC grew its holdings in shares of Coterra Energy by 23.0% during the fourth quarter. Oak Thistle LLC now owns 29,912 shares of the company’s stock worth $763,000 after buying an additional 5,590 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

CTRA stock opened at $28.03 on Tuesday. The firm has a 50 day moving average of $26.17 and a 200-day moving average of $26.33. Coterra Energy Inc. has a 12-month low of $22.91 and a 12-month high of $29.89. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12. The company has a market cap of $21.07 billion, a price-to-earnings ratio of 13.10 and a beta of 0.21.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.54 billion. As a group, equities analysts expect that Coterra Energy Inc. will post 1.96 EPS for the current fiscal year.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.00%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is presently 39.25%.

Insider Activity

In other news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy 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 completion of the sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at approximately $4,783,071.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy 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 completion of 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy 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 transaction, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CTRA shares. Truist Financial lowered their price target on Coterra Energy from $30.00 to $27.00 and set a “hold” rating on the stock in a report on Friday. Wells Fargo & Company raised Coterra Energy from an “equal weight” rating to an “overweight” rating and set a $30.00 price target on the stock in a report on Thursday, December 14th. Stifel Nicolaus lowered their price target on Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Raymond James raised their price objective on shares of Coterra Energy from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Finally, Mizuho restated a “buy” rating and issued a $34.00 price objective on shares of Coterra Energy in a research report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.46.

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.