Balyasny Asset Management L.P. Sells 1,845,507 Shares of Coterra Energy Inc. (NYSE:CTRA)

Balyasny Asset Management L.P. lowered its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 96.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,235 shares of the company's stock after selling 1,845,507 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Coterra Energy were worth $1,922,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. City State Bank bought a new position in Coterra Energy during the fourth quarter valued at $26,000. AdvisorNet Financial Inc lifted its position in Coterra Energy by 192.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company's stock valued at $29,000 after purchasing an additional 744 shares during the last quarter. MCF Advisors LLC lifted its position in Coterra Energy by 230.5% during the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company's stock valued at $32,000 after purchasing an additional 869 shares during the last quarter. R Squared Ltd bought a new position in Coterra Energy during the fourth quarter valued at $32,000. Finally, Plato Investment Management Ltd bought a new position in Coterra Energy during the fourth quarter valued at $43,000. Institutional investors own 87.92% of the company's stock.

Insider Buying and Selling at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the sale, the senior vice president now owns 106,114 shares of the company's stock, valued at $3,086,856.26. This represents a 19.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the sale, the senior vice president now directly owns 126,770 shares of the company's stock, valued at $3,374,617.40. The trade was a 21.82% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

Coterra Energy Trading Up 3.2%

NYSE CTRA opened at $24.13 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company has a market capitalization of $18.44 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 0.59 and a beta of 0.33. The company's 50-day simple moving average is $26.26 and its two-hundred day simple moving average is $26.39. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.09. The business had revenue of $924.00 million for the quarter, compared to the consensus estimate of $1.92 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company's revenue for the quarter was up 32.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 EPS. Equities analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend is Thursday, May 15th. Coterra Energy's dividend payout ratio (DPR) is 51.16%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CTRA shares. Susquehanna lowered their price objective on shares of Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Raymond James reduced their target price on shares of Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 12th. The Goldman Sachs Group increased their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. reduced their target price on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Finally, Williams Trading set a $37.00 target price on shares of Coterra Energy in a research note on Wednesday, March 5th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Coterra Energy has an average rating of "Moderate Buy" and a consensus price target of $33.75.

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.

Want to see what other hedge funds are holding CTRA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coterra Energy Inc. (NYSE:CTRA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.