Russell Investments Group Ltd. Acquires 9,487 Shares of Coterra Energy Inc. (NYSE:CTRA)

Russell Investments Group Ltd. increased its holdings in Coterra Energy Inc. (NYSE:CTRA) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 778,363 shares of the company’s stock after purchasing an additional 9,487 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.10% of Coterra Energy worth $19,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Headlands Technologies LLC grew its stake in shares of Coterra Energy by 397.7% in the fourth quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock worth $44,000 after purchasing an additional 1,392 shares during the last quarter. Alaska Permanent Fund Corp boosted its position in Coterra Energy by 1.3% during the 4th quarter. Alaska Permanent Fund Corp now owns 96,170 shares of the company’s stock valued at $2,454,000 after acquiring an additional 1,270 shares in the last quarter. GAMMA Investing LLC bought a new stake in Coterra Energy during the 4th quarter valued at approximately $152,000. Parkside Financial Bank & Trust boosted its position in Coterra Energy by 256.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 9,201 shares of the company’s stock valued at $235,000 after acquiring an additional 6,622 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in Coterra Energy by 17.5% during the 4th quarter. Illinois Municipal Retirement Fund now owns 302,501 shares of the company’s stock valued at $7,720,000 after acquiring an additional 45,040 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction on 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 sale, 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 document filed with the SEC, which is available through this link. In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction on 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 sale, 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 document filed with the SEC, which is available through this link. Also, CAO Todd M. Roemer sold 55,000 shares of the business’s stock in a transaction 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 sale, 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. Company insiders own 1.70% of the company’s stock.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $27.16 on Friday. Coterra Energy Inc. has a twelve month low of $22.91 and a twelve month high of $29.89. The firm has a market cap of $20.42 billion, a P/E ratio of 12.69 and a beta of 0.22. The company has a 50 day moving average of $27.26 and a 200 day moving average of $26.41. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.54 billion. As a group, research analysts expect that Coterra Energy Inc. will post 1.82 EPS for the current fiscal year.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.21 per share. The ex-dividend date was Wednesday, March 13th. This is a positive change 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%. Coterra Energy’s payout ratio is currently 39.25%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CTRA shares. Stephens reaffirmed an “overweight” rating and set a $39.00 price objective on shares of Coterra Energy in a research report on Tuesday, January 23rd. Piper Sandler lifted their price objective on Coterra Energy from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Bank of America raised Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Friday, January 5th. Barclays started coverage on Coterra Energy in a research report on Wednesday, April 10th. They set an “overweight” rating and a $36.00 price objective on the stock. Finally, UBS Group lifted their target price on shares of Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a report on Friday, March 1st. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.47.

Coterra Energy Company 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.