Simplicity Solutions LLC Grows Stake in Coterra Energy Inc. (NYSE:CTRA)

Simplicity Solutions LLC grew its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 59.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,944 shares of the company’s stock after purchasing an additional 10,836 shares during the period. Simplicity Solutions LLC’s holdings in Coterra Energy were worth $739,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. ICA Group Wealth Management LLC purchased a new position in Coterra Energy in the fourth quarter worth $25,000. SouthState Corp grew its position in Coterra Energy by 75.4% in the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after acquiring an additional 454 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new position in Coterra Energy in the fourth quarter worth $33,000. VisionPoint Advisory Group LLC grew its position in Coterra Energy by 133.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after acquiring an additional 740 shares in the last quarter. Finally, Achmea Investment Management B.V. purchased a new position in Coterra Energy in the first quarter worth $41,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Stifel Nicolaus cut their target price on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Barclays started coverage on shares of Coterra Energy in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price target for the company. Scotiabank boosted their price target on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Morgan Stanley lowered their price target on shares of Coterra Energy from $27.00 to $26.00 and set an “equal weight” rating for the company in a research note on Thursday, March 28th. Finally, Bank of America raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Friday, January 5th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.00.

Coterra Energy Stock Performance

Shares of NYSE:CTRA opened at $27.19 on Wednesday. The company has a market cap of $20.44 billion, a price-to-earnings ratio of 12.71 and a beta of 0.21. The company has a 50-day moving average price of $26.47 and a 200-day moving average price of $26.36. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12. Coterra Energy Inc. has a 12 month low of $22.91 and a 12 month high of $29.89.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.06). The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.54 billion. Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. As a group, equities analysts anticipate that Coterra Energy Inc. will post 1.95 EPS for the current year.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.21 dividend. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend was Wednesday, March 13th. Coterra Energy’s dividend payout ratio is presently 39.25%.

Insider Buying and Selling

In related news, CAO Todd M. Roemer sold 55,000 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following the sale, the vice president now owns 93,988 shares in the company, valued at $2,449,327.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was 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 owns 176,758 shares in the company, valued at approximately $4,783,071.48. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Coterra Energy 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.