abrdn plc Increases Stake in Coterra Energy Inc. (NYSE:CTRA)

abrdn plc increased its holdings in Coterra Energy Inc. (NYSE:CTRA) by 72.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 329,277 shares of the company’s stock after purchasing an additional 138,621 shares during the period. abrdn plc’s holdings in Coterra Energy were worth $8,403,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in CTRA. Schroder Investment Management Group boosted its stake in shares of Coterra Energy by 21.7% in the 3rd quarter. Schroder Investment Management Group now owns 7,187,516 shares of the company’s stock valued at $194,422,000 after purchasing an additional 1,281,094 shares in the last quarter. AQR Capital Management LLC boosted its position in Coterra Energy by 60.4% during the 3rd quarter. AQR Capital Management LLC now owns 1,936,277 shares of the company’s stock valued at $52,376,000 after buying an additional 729,306 shares during the period. Envestnet Asset Management Inc. boosted its position in Coterra Energy by 47.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,247,785 shares of the company’s stock valued at $60,803,000 after buying an additional 720,464 shares during the period. Victory Capital Management Inc. boosted its position in Coterra Energy by 3.5% during the 3rd quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock valued at $431,329,000 after buying an additional 544,768 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in Coterra Energy by 59.3% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,454,603 shares of the company’s stock valued at $39,347,000 after buying an additional 541,518 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Down 0.5 %

Shares of NYSE CTRA opened at $28.28 on Friday. Coterra Energy Inc. has a 1 year low of $22.91 and a 1 year high of $29.89. The stock has a market cap of $21.26 billion, a P/E ratio of 13.21 and a beta of 0.21. The firm has a 50-day moving average of $27.10 and a 200 day moving average of $26.44. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18.

Coterra Energy (NYSE:CTRA) last issued 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 business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. As a group, sell-side analysts expect that Coterra Energy Inc. will post 1.87 EPS for the current fiscal year.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $0.21 dividend. The ex-dividend date was Wednesday, March 13th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 2.97%. Coterra Energy’s payout ratio is 39.25%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Mizuho reissued a “buy” rating and set a $34.00 price target on shares of Coterra Energy in a research report on Wednesday, April 3rd. Bank of America raised 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 report on Friday, January 5th. Stephens reaffirmed an “overweight” rating and issued a $39.00 target price on shares of Coterra Energy in a research report on Tuesday, January 23rd. Raymond James raised their target price on shares of Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Finally, UBS Group raised their target price on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $32.47.

Insiders Place Their Bets

In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy 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 completion of the transaction, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value 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 $4,783,071.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the vice president now owns 93,988 shares of the company’s stock, valued at $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.