Vest Financial LLC Makes New $11.60 Million Investment in Coterra Energy Inc. (NYSE:CTRA)

Vest Financial LLC bought a new stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 401,531 shares of the company's stock, valued at approximately $11,604,000. Vest Financial LLC owned about 0.05% of Coterra Energy at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CTRA. abrdn plc increased its stake in Coterra Energy by 2.8% in the fourth quarter. abrdn plc now owns 188,148 shares of the company's stock valued at $4,806,000 after purchasing an additional 5,188 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Coterra Energy by 19.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 604,824 shares of the company's stock valued at $14,906,000 after acquiring an additional 100,544 shares during the period. Tectonic Advisors LLC purchased a new stake in Coterra Energy during the fourth quarter valued at about $367,000. Choreo LLC grew its position in Coterra Energy by 23.7% during the fourth quarter. Choreo LLC now owns 27,832 shares of the company's stock valued at $710,000 after acquiring an additional 5,336 shares during the period. Finally, Tyche Wealth Partners LLC purchased a new stake in Coterra Energy during the fourth quarter valued at about $266,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CTRA. Mizuho lowered their price target on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. UBS Group lowered their price target on Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, May 9th. JPMorgan Chase & Co. lowered 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. Johnson Rice raised Coterra Energy from a "hold" rating to an "accumulate" rating and boosted their price target for the company from $34.00 to $37.00 in a research report on Wednesday, March 12th. Finally, Bank of America lowered their price target on Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.50.

Insiders Place Their Bets

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 106,114 shares of the company's stock, valued at $3,086,856.26. This trade represents a 19.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was 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 in the company, valued at approximately $3,374,617.40. This trade represents a 21.82% decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Coterra Energy Stock Up 3.1%

CTRA traded up $0.76 on Friday, reaching $25.59. The company's stock had a trading volume of 4,691,568 shares, compared to its average volume of 6,426,433. The stock has a market cap of $19.53 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 0.59 and a beta of 0.34. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The business's 50 day moving average is $25.00 and its 200 day moving average is $26.38.

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

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend was Thursday, May 15th. 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.