Benjamin Edwards Inc. Sells 80,119 Shares of Coterra Energy Inc. (NYSE:CTRA)

Benjamin Edwards Inc. lowered its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 88.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,372 shares of the company's stock after selling 80,119 shares during the quarter. Benjamin Edwards Inc.'s holdings in Coterra Energy were worth $265,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. City State Bank bought a new stake in Coterra Energy during the 4th quarter valued at $26,000. AdvisorNet Financial Inc increased its stake in Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company's stock valued at $29,000 after purchasing an additional 744 shares in the last quarter. MCF Advisors LLC increased its stake in Coterra Energy by 230.5% during the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company's stock valued at $32,000 after purchasing an additional 869 shares in the last quarter. R Squared Ltd bought a new stake in Coterra Energy during the 4th quarter valued at $32,000. Finally, Plato Investment Management Ltd bought a new stake in Coterra Energy during the 4th quarter valued at $43,000. Institutional investors own 87.92% of the company's stock.

Insider Activity

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

Coterra Energy Stock Performance

Coterra Energy stock traded down $0.28 during midday trading on Thursday, reaching $24.70. The stock had a trading volume of 6,841,258 shares, compared to its average volume of 6,376,844. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The firm's 50-day moving average price is $26.22 and its 200 day moving average price is $26.37. The firm has a market capitalization of $18.85 billion, a PE ratio of 14.88, a P/E/G ratio of 0.59 and a beta of 0.33. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

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

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Thursday, May 15th. Coterra Energy's dividend payout ratio is presently 51.16%.

Wall Street Analysts Forecast Growth

CTRA has been the topic of a number of analyst reports. Raymond James cut their price objective on shares of Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a report on Wednesday, March 12th. Mizuho cut their price objective on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a report on Tuesday. Jefferies Financial Group lifted their price objective on shares of Coterra Energy from $26.00 to $28.00 and gave the stock a "hold" rating in a report on Tuesday, February 4th. Scotiabank cut their price objective on shares of Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Finally, Wells Fargo & Company lifted their price objective on shares of Coterra Energy from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $33.50.

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.