Coterra Energy Inc. (NYSE:CTRA) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. reduced its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 16.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,098,915 shares of the company's stock after selling 407,342 shares during the period. D. E. Shaw & Co. Inc. owned about 0.28% of Coterra Energy worth $53,606,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. City State Bank bought a new position in shares of Coterra Energy in the fourth quarter worth $26,000. AdvisorNet Financial Inc grew its stake in shares of 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 buying an additional 744 shares during the last quarter. MCF Advisors LLC boosted its holdings in shares of Coterra Energy by 230.5% during the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company's stock worth $32,000 after purchasing an additional 869 shares during the period. R Squared Ltd purchased a new stake in Coterra Energy in the fourth quarter worth about $32,000. Finally, Plato Investment Management Ltd purchased a new position in shares of Coterra Energy during the fourth quarter valued at approximately $43,000. 87.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CTRA shares. Morgan Stanley set a $28.00 price target on shares of Coterra Energy in a research report on Tuesday, April 15th. Jefferies Financial Group upped their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the company a "hold" rating in a research report on Tuesday, February 4th. Barclays reduced their price objective on shares of Coterra Energy from $37.00 to $35.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Johnson Rice upgraded shares of Coterra Energy from a "hold" rating to an "accumulate" rating and upped their target price for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. Finally, Piper Sandler cut their price target on shares of Coterra Energy from $37.00 to $36.00 and set an "overweight" rating on the stock in a report on Tuesday. 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $33.50.

Insider Buying and Selling at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of the business's 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the company's stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

Coterra Energy Trading Down 0.7%

Shares of NYSE CTRA traded down $0.18 during midday trading on Thursday, reaching $24.59. 2,650,486 shares of the stock were exchanged, compared to its average volume of 6,361,107. The company has a 50 day simple moving average of $26.22 and a 200 day simple moving average of $26.37. The stock has a market capitalization of $18.76 billion, a P/E ratio of 14.77, a PEG 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.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted 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. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm had revenue of $924.00 million during the quarter, compared to analysts' expectations of $1.92 billion. During the same quarter last year, the company posted $0.51 EPS. The firm's quarterly revenue was up 32.9% on a year-over-year basis. As a group, equities analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.88 annualized dividend and a yield of 3.58%. Coterra Energy's dividend payout ratio is presently 51.16%.

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.