Nisa Investment Advisors LLC Boosts Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Nisa Investment Advisors LLC boosted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 242,515 shares of the company’s stock after purchasing an additional 3,785 shares during the period. Nisa Investment Advisors LLC’s holdings in Coterra Energy were worth $6,189,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Quent Capital LLC lifted its position in Coterra Energy by 7.4% during the third quarter. Quent Capital LLC now owns 5,441 shares of the company’s stock valued at $147,000 after purchasing an additional 375 shares during the period. Beacon Investment Advisors LLC lifted its position in Coterra Energy by 0.7% during the third quarter. Beacon Investment Advisors LLC now owns 62,447 shares of the company’s stock valued at $1,689,000 after purchasing an additional 422 shares during the period. SouthState Corp lifted its position in Coterra Energy by 75.4% during the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after purchasing an additional 454 shares during the period. Echo Street Capital Management LLC raised its position in Coterra Energy by 5.5% in the fourth quarter. Echo Street Capital Management LLC now owns 9,084 shares of the company’s stock worth $223,000 after acquiring an additional 477 shares during the period. Finally, Hoxton Planning & Management LLC raised its position in Coterra Energy by 3.9% in the first quarter. Hoxton Planning & Management LLC now owns 13,238 shares of the company’s stock worth $325,000 after acquiring an additional 500 shares during the period. Institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

CTRA has been the topic of several recent research reports. Wells Fargo & Company upgraded shares of Coterra Energy from an “equal weight” rating to an “overweight” rating and set a $30.00 price target on the stock in a research report on Thursday, December 14th. Stephens reiterated an “overweight” rating and issued a $39.00 price target on shares of Coterra Energy in a research report on Tuesday, January 23rd. JPMorgan Chase & Co. increased their price target on shares of Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Susquehanna upgraded shares of Coterra Energy from a “neutral” rating to a “positive” rating and decreased their price target for the stock from $31.00 to $30.00 in a research report on Friday, January 26th. Finally, Mizuho restated a “buy” rating and set a $34.00 price objective on shares of Coterra Energy in a research report on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $31.79.

Coterra Energy Stock Performance

CTRA opened at $28.18 on Thursday. The stock has a market capitalization of $21.19 billion, a price-to-earnings ratio of 13.17 and a beta of 0.21. The company has a fifty day moving average of $26.29 and a 200 day moving average of $26.35. Coterra Energy Inc. has a fifty-two week low of $22.91 and a fifty-two week high of $29.89. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21.

Coterra Energy (NYSE:CTRA) last posted its earnings results 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). The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. As a group, sell-side analysts forecast that Coterra Energy Inc. will post 1.96 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. Shareholders of record on Thursday, March 14th were paid a $0.21 dividend. This is a boost 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 2.98%. The ex-dividend date of this dividend was Wednesday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is presently 39.25%.

Insiders Place Their Bets

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction on 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 completion of the transaction, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction on 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 completion of the transaction, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael D. Deshazer sold 14,000 shares of the firm’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 completion of the sale, the vice president now 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. Corporate insiders own 1.70% of the company’s stock.

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.