BOKF NA lessened its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 11.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 595,723 shares of the company's stock after selling 79,433 shares during the quarter. BOKF NA owned 0.08% of Coterra Energy worth $16,543,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of CTRA. Sterling Capital Management LLC grew its position in shares of Coterra Energy by 5,744.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company's stock valued at $93,520,000 after acquiring an additional 3,599,042 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Coterra Energy by 117.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company's stock valued at $123,036,000 after buying an additional 2,600,801 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Coterra Energy during the 4th quarter worth approximately $61,461,000. Schroder Investment Management Group lifted its position in shares of Coterra Energy by 18.2% during the 4th quarter. Schroder Investment Management Group now owns 11,776,525 shares of the company's stock valued at $300,537,000 after buying an additional 1,809,615 shares in the last quarter. Finally, Truist Financial Corp grew its stake in Coterra Energy by 668.0% in the 4th quarter. Truist Financial Corp now owns 1,616,660 shares of the company's stock valued at $41,289,000 after acquiring an additional 1,406,170 shares during the period. Hedge funds and other institutional investors own 87.92% of the company's stock.
Coterra Energy Trading Up 1.2 %
Shares of Coterra Energy stock traded up $0.28 during trading hours on Friday, hitting $23.40. The company's stock had a trading volume of 5,653,311 shares, compared to its average volume of 6,334,114. The stock has a market cap of $17.88 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 0.59 and a beta of 0.33. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The firm has a fifty day moving average of $26.30 and a 200-day moving average of $26.37.
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 company had revenue of $924.00 million for the quarter, compared to analysts' expectations of $1.92 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. Coterra Energy's revenue for the quarter was up 32.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.51 earnings per share. Research analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current year.
Coterra Energy Announces Dividend
The firm 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. The ex-dividend date is Thursday, May 15th. This represents a $0.88 annualized dividend and a dividend yield of 3.76%. Coterra Energy's dividend payout ratio is presently 51.16%.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the stock. UBS Group decreased their price objective on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Friday. Barclays lowered their price objective on Coterra Energy from $37.00 to $35.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Scotiabank decreased their target price on Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Piper Sandler increased their price objective on Coterra Energy from $34.00 to $37.00 and gave the company an "overweight" rating in a research note on Thursday, March 6th. Finally, Bank of America decreased their price objective on Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Three 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.75.
Check Out Our Latest Analysis on CTRA
Insiders Place Their Bets
In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the completion of 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 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 the company'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 approximately $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. 1.70% of the stock is owned by company insiders.
About Coterra Energy
(
Free Report)
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.
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