American National Bank & Trust Boosts Stake in Coterra Energy Inc. (NYSE:CTRA)

American National Bank & Trust boosted its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 61.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,833 shares of the company's stock after buying an additional 14,413 shares during the period. American National Bank & Trust's holdings in Coterra Energy were worth $1,093,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Coterra Energy by 1.9% in the 4th quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company's stock worth $1,852,385,000 after buying an additional 1,318,754 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Coterra Energy by 5.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company's stock worth $599,356,000 after purchasing an additional 1,310,965 shares during the period. Geode Capital Management LLC increased its holdings in shares of Coterra Energy by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company's stock worth $486,528,000 after purchasing an additional 96,059 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Coterra Energy by 5.0% in the fourth quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company's stock worth $454,834,000 after purchasing an additional 845,609 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Coterra Energy by 9.0% in the fourth quarter. Invesco Ltd. now owns 12,232,484 shares of the company's stock worth $312,418,000 after purchasing an additional 1,011,166 shares during the period. 87.92% of the stock is owned by institutional investors.

Coterra Energy Stock Up 0.2%

NYSE:CTRA traded up $0.04 during midday trading on Thursday, reaching $24.93. 2,043,126 shares of the stock traded hands, compared to its average volume of 6,402,867. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The business has a 50-day moving average of $25.15 and a two-hundred day moving average of $26.40. 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 stock has a market capitalization of $19.03 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 0.59 and a beta of 0.33.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating 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 business had revenue of $924.00 million for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the business posted $0.51 EPS. Coterra Energy's revenue for the quarter was up 32.9% compared to the same quarter last year. On average, equities analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were paid a $0.22 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.53%. Coterra Energy's payout ratio is currently 51.16%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CTRA shares. The Goldman Sachs Group raised 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. Wells Fargo & Company raised their price target on shares of Coterra Energy from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Scotiabank reduced their price target on shares of Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Raymond James reduced their price target on shares of Coterra Energy from $41.00 to $37.00 and set an "outperform" rating for the company in a research report on Wednesday, March 12th. Finally, Johnson Rice raised shares of Coterra Energy from a "hold" rating to an "accumulate" rating and lifted their target price for the stock from $34.00 to $37.00 in a research report on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.50.

Insider Transactions at Coterra Energy

In other news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the sale, the senior vice president now owns 106,114 shares in the company, valued at $3,086,856.26. This trade represents a 19.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction dated Monday, March 10th. The shares were 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 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. Company insiders own 1.70% of the company's stock.

About Coterra Energy

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.