Ameriprise Financial Inc. Has $34.24 Million Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Ameriprise Financial Inc. grew its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 19.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,340,525 shares of the company's stock after acquiring an additional 216,865 shares during the quarter. Ameriprise Financial Inc. owned 0.18% of Coterra Energy worth $34,237,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CTRA. Wellington Management Group LLP grew its holdings in shares of Coterra Energy by 1.9% during the fourth quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company's stock worth $1,852,385,000 after buying an additional 1,318,754 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Coterra Energy by 5.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company's stock valued at $599,356,000 after purchasing an additional 1,310,965 shares during the last quarter. Geode Capital Management LLC boosted its position in Coterra Energy by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company's stock valued at $486,528,000 after purchasing an additional 96,059 shares during the last quarter. Victory Capital Management Inc. boosted its position in Coterra Energy by 5.0% during the fourth quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company's stock valued at $454,834,000 after purchasing an additional 845,609 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Coterra Energy by 9.0% during the fourth quarter. Invesco Ltd. now owns 12,232,484 shares of the company's stock valued at $312,418,000 after purchasing an additional 1,011,166 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on CTRA. Wells Fargo & Company increased their price target on Coterra Energy from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Morgan Stanley set a $28.00 price target on Coterra Energy in a research report on Tuesday, April 15th. Piper Sandler reduced their price target on Coterra Energy from $37.00 to $36.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. JPMorgan Chase & Co. reduced their price target on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, Scotiabank cut their price objective on Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $33.50.

Coterra Energy Price Performance

Shares of CTRA traded up $0.11 during midday trading on Friday, hitting $24.80. The company's stock had a trading volume of 6,938,939 shares, compared to its average volume of 6,388,496. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company's fifty day simple moving average is $26.13 and its two-hundred day simple moving average is $26.41. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $18.93 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 0.59 and a beta of 0.33.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.09. The business had revenue of $924.00 million for the quarter, compared to analyst estimates of $1.92 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. Coterra Energy's quarterly revenue was up 32.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS. As a group, equities analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 3.55%. Coterra Energy's dividend payout ratio is currently 51.16%.

Insiders Place Their Bets

In other news, SVP Kevin William Smith sold 25,733 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the transaction, the senior vice president now directly owns 106,114 shares of the company's stock, valued at $3,086,856.26. The trade was a 19.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the transaction, the senior vice president now directly owns 126,770 shares in the company, valued at $3,374,617.40. This represents a 21.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.50% of the company's stock.

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.