GAMMA Investing LLC Boosts Stake in Coterra Energy Inc. (NYSE:CTRA)

GAMMA Investing LLC grew its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 5,558.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 676,867 shares of the company's stock after acquiring an additional 664,905 shares during the period. GAMMA Investing LLC owned about 0.09% of Coterra Energy worth $19,561,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of CTRA. Private Trust Co. NA boosted its holdings in Coterra Energy by 20.0% in the fourth quarter. Private Trust Co. NA now owns 2,140 shares of the company's stock valued at $55,000 after purchasing an additional 356 shares during the period. New York Life Investment Management LLC raised its position in Coterra Energy by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 99,584 shares of the company's stock valued at $2,543,000 after purchasing an additional 421 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its stake in shares of Coterra Energy by 33.2% in the 4th 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. V Square Quantitative Management LLC boosted its stake in shares of Coterra Energy by 3.5% in the 4th quarter. V Square Quantitative Management LLC now owns 13,137 shares of the company's stock valued at $336,000 after buying an additional 440 shares during the period. Finally, Cadence Wealth Management LLC grew its position in shares of Coterra Energy by 4.1% during the fourth quarter. Cadence Wealth Management LLC now owns 11,880 shares of the company's stock worth $303,000 after buying an additional 472 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.

Coterra Energy Stock Performance

Shares of CTRA traded up $0.76 during mid-day trading on Friday, reaching $25.59. 4,691,568 shares of the company's stock were exchanged, compared to its average volume of 6,419,771. The business's fifty day simple moving average is $25.00 and its 200-day simple moving average is $26.39. The stock has a market capitalization of $19.53 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 0.59 and a beta of 0.33. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week 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.

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 for the quarter, topping analysts' consensus estimates of $0.71 by $0.09. The firm had revenue of $924.00 million during 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 quarterly revenue was up 32.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 EPS. On average, equities research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors 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 dividend yield of 3.44%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy's dividend payout ratio is currently 51.16%.

Wall Street Analysts Forecast Growth

CTRA has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Scotiabank reduced their price objective on shares of Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Wells Fargo & Company lifted their price objective on shares of Coterra Energy from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Susquehanna dropped their target price on Coterra Energy from $34.00 to $32.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Finally, Johnson Rice upgraded Coterra Energy from a "hold" rating to an "accumulate" rating and raised their price target for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. Four 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, Coterra Energy presently has an average rating of "Moderate Buy" and an average target price of $33.50.

Insider Activity at Coterra Energy

In other Coterra Energy 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 transaction, the senior vice president now directly owns 126,770 shares of the company's stock, valued at approximately $3,374,617.40. The trade was a 21.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kevin William Smith sold 25,733 shares of the firm's stock in a transaction 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 completion of the sale, 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 disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Coterra Energy Company 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.