Coterra Energy Inc. (NYSE:CTRA) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 331,528 shares of the company’s stock after selling 19,331 shares during the period. PNC Financial Services Group Inc.’s holdings in Coterra Energy were worth $8,461,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SouthState Corp grew its holdings in Coterra Energy by 75.4% in the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after purchasing an additional 454 shares during the period. Tennessee Valley Asset Management Partners purchased a new stake in Coterra Energy during the fourth quarter worth approximately $33,000. VisionPoint Advisory Group LLC grew its stake in Coterra Energy by 133.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after buying an additional 740 shares during the period. Wetzel Investment Advisors Inc. purchased a new position in shares of Coterra Energy in the fourth quarter valued at $33,000. Finally, Headlands Technologies LLC boosted 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 valued at $44,000 after purchasing an additional 1,392 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insider Activity at Coterra Energy

In related 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 value of $364,840.00. Following the completion of the transaction, the vice president now owns 93,988 shares in the company, valued at approximately $2,449,327.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, 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 transaction of $1,488,300.00. Following the completion of the transaction, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Michael D. Deshazer sold 14,000 shares of the firm’s 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 transaction, the vice president now owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Coterra Energy Stock Down 1.5 %

CTRA stock opened at $27.08 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.49 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a fifty-two week low of $22.91 and a fifty-two week high of $29.89. The firm’s 50-day simple moving average is $27.78 and its 200 day simple moving average is $26.37. The stock has a market cap of $20.15 billion, a PE ratio of 15.65 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.38 billion. As a group, sell-side analysts predict that Coterra Energy Inc. will post 1.82 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be given a $0.21 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.10%. Coterra Energy’s dividend payout ratio is presently 48.55%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Barclays assumed coverage on shares of Coterra Energy in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 target price for the company. Truist Financial upgraded shares of Coterra Energy from a “hold” rating to a “buy” rating and upped their target price for the company from $27.00 to $35.00 in a research note on Thursday, May 16th. Scotiabank upped their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Finally, Mizuho upped their price target on shares of Coterra Energy from $37.00 to $41.00 and gave the company a “buy” rating in a report on Monday, May 13th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $33.67.

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.