State of Wyoming Grows Position in Coterra Energy Inc. (NYSE:CTRA)

State of Wyoming grew its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 406.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,079 shares of the company's stock after purchasing an additional 11,301 shares during the period. State of Wyoming's holdings in Coterra Energy were worth $360,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CTRA. MCF Advisors LLC lifted its holdings in shares of Coterra Energy by 230.5% during the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company's stock worth $32,000 after acquiring an additional 869 shares during the period. R Squared Ltd bought a new stake in Coterra Energy in the fourth quarter valued at approximately $32,000. Plato Investment Management Ltd bought a new stake in Coterra Energy in the fourth quarter valued at approximately $43,000. Deseret Mutual Benefit Administrators boosted its holdings in shares of Coterra Energy by 33.2% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company's stock valued at $44,000 after buying an additional 429 shares during the period. Finally, VSM Wealth Advisory LLC acquired a new position in Coterra Energy during the fourth quarter worth $46,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on CTRA. Susquehanna reduced their target price on shares of Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Raymond James reduced their price objective on shares of Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 12th. Morgan Stanley set a $28.00 price objective on shares of Coterra Energy in a research note on Tuesday, April 15th. Bank of America reduced their price objective on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Finally, Piper Sandler reduced their price objective on shares of Coterra Energy from $37.00 to $36.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Coterra Energy has a consensus rating of "Moderate Buy" and an average price target of $33.50.

Insider Activity

In related news, SVP Kevin William Smith sold 25,733 shares of the business's 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 transaction, the senior vice president now directly owns 106,114 shares of the company's stock, valued at approximately $3,086,856.26. The trade was a 19.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the business's 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 transaction, the senior vice president now directly owns 126,770 shares in the company, valued at $3,374,617.40. This trade represents a 21.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Coterra Energy Trading Up 1.3%

Coterra Energy stock traded up $0.33 during mid-day trading on Tuesday, hitting $24.85. 1,321,531 shares of the stock were exchanged, compared to its average volume of 6,407,088. 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 Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The firm's fifty day simple moving average is $25.73 and its two-hundred day simple moving average is $26.45. The stock has a market capitalization of $18.96 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 0.59 and a beta of 0.33.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $924.00 million during the quarter, compared to analyst estimates 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 previous year, the business posted $0.51 EPS. Analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a $0.22 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.88 annualized dividend and a dividend yield of 3.54%. Coterra Energy's dividend payout ratio is currently 51.16%.

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.