Fidelis Capital Partners LLC Increases Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Fidelis Capital Partners LLC increased its position in Coterra Energy Inc. (NYSE:CTRA) by 9.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,911 shares of the company’s stock after acquiring an additional 790 shares during the period. Fidelis Capital Partners LLC’s holdings in Coterra Energy were worth $227,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Beacon Investment Advisors LLC raised its holdings in Coterra Energy by 0.7% in the 3rd quarter. Beacon Investment Advisors LLC now owns 62,447 shares of the company’s stock worth $1,689,000 after acquiring an additional 422 shares during the last quarter. Stone House Investment Management LLC raised its stake in Coterra Energy by 32.4% during the 4th quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock valued at $46,000 after buying an additional 438 shares during the last quarter. SouthState Corp raised its stake in Coterra Energy by 75.4% during the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after buying an additional 454 shares during the last quarter. Echo Street Capital Management LLC raised its stake in Coterra Energy by 5.5% during the 4th quarter. Echo Street Capital Management LLC now owns 9,084 shares of the company’s stock valued at $223,000 after buying an additional 477 shares during the last quarter. Finally, Hoxton Planning & Management LLC raised its stake in Coterra Energy by 3.9% during the 1st quarter. Hoxton Planning & Management LLC now owns 13,238 shares of the company’s stock valued at $325,000 after buying an additional 500 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Trading Up 1.9 %

Shares of Coterra Energy stock opened at $27.75 on Friday. The company has a market capitalization of $20.86 billion, a P/E ratio of 12.97 and a beta of 0.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21. The company has a fifty day moving average of $26.71 and a 200 day moving average of $26.38. Coterra Energy Inc. has a fifty-two week low of $22.91 and a fifty-two week high of $29.89.

Coterra Energy (NYSE:CTRA) last issued 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 firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. On average, sell-side analysts anticipate that Coterra Energy Inc. will post 1.93 earnings per share for the current fiscal year.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.84 annualized dividend and a yield of 3.03%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s dividend payout ratio is currently 39.25%.

Insider Buying and Selling

In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction dated Friday, March 1st. The shares were 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 owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction dated Friday, March 1st. The shares were 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 owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $1,488,300.00. Following 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 disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

CTRA has been the subject of a number of research reports. Morgan Stanley boosted their target price on shares of Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a research note on Wednesday. Bank of America upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Friday, January 5th. Raymond James boosted their target price on shares of Coterra Energy from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Stephens restated an “overweight” rating and issued a $39.00 price objective on shares of Coterra Energy in a research note on Tuesday, January 23rd. Finally, Susquehanna upgraded Coterra Energy from a “neutral” rating to a “positive” rating and reduced their price objective for the stock from $31.00 to $30.00 in a research note on Friday, January 26th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $32.33.

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.