Benjamin F. Edwards & Company Inc. Boosts Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Benjamin F. Edwards & Company Inc. raised its stake in Coterra Energy Inc. (NYSE:CTRA) by 1,073.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 74,634 shares of the company’s stock after purchasing an additional 68,272 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Coterra Energy were worth $1,905,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CTRA. Charles Schwab Investment Management Inc. grew its position in Coterra Energy by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,080,590 shares of the company’s stock valued at $434,980,000 after buying an additional 235,636 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Coterra Energy by 3.5% during the third quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock worth $431,329,000 after acquiring an additional 544,768 shares during the period. Invesco Ltd. raised its holdings in Coterra Energy by 1.5% during the third quarter. Invesco Ltd. now owns 10,723,660 shares of the company’s stock worth $290,075,000 after purchasing an additional 161,776 shares in the last quarter. Northern Trust Corp lifted its position in Coterra Energy by 2.3% in the third quarter. Northern Trust Corp now owns 9,084,114 shares of the company’s stock valued at $245,725,000 after purchasing an additional 201,520 shares during the period. Finally, Morgan Stanley boosted its holdings in Coterra Energy by 5.9% in the 3rd quarter. Morgan Stanley now owns 8,421,481 shares of the company’s stock valued at $227,801,000 after purchasing an additional 466,511 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insider Activity

In related news, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction that occurred 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 owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Michael D. Deshazer sold 14,000 shares of the company’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 of the company’s stock, valued at approximately $2,449,327.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of the firm’s 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 in the company, valued at $4,783,071.48. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Coterra Energy Price Performance

Coterra Energy stock opened at $28.19 on Monday. The firm’s 50-day moving average is $27.30 and its two-hundred day moving average is $26.36. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.89 and a quick ratio of 1.18. The stock has a market capitalization of $21.19 billion, a P/E ratio of 16.29 and a beta of 0.22. 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 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). The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. Equities analysts predict that Coterra Energy Inc. will post 1.82 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be issued a $0.21 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.98%. Coterra Energy’s dividend payout ratio (DPR) is 48.55%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CTRA shares. UBS Group increased their target price on Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Truist Financial cut their price objective on Coterra Energy from $30.00 to $27.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Barclays started coverage on shares of Coterra Energy in a research report on Wednesday, April 10th. They set an “overweight” rating and a $36.00 target price on the stock. Susquehanna increased their price target on shares of Coterra Energy from $30.00 to $32.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Finally, Morgan Stanley boosted their price objective on shares of Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.67.

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.