Greenwood Capital Associates LLC Buys 18,107 Shares of Coterra Energy Inc. (NYSE:CTRA)

Greenwood Capital Associates LLC grew its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 27.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,012 shares of the company's stock after purchasing an additional 18,107 shares during the period. Greenwood Capital Associates LLC's holdings in Coterra Energy were worth $2,428,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Investors Research Corp boosted its stake in shares of Coterra Energy by 45.2% in the first quarter. Investors Research Corp now owns 1,311 shares of the company's stock valued at $38,000 after buying an additional 408 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in Coterra Energy in the fourth quarter valued at $43,000. Deseret Mutual Benefit Administrators boosted its position in shares of Coterra Energy by 33.2% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company's stock worth $44,000 after purchasing an additional 429 shares in the last quarter. VSM Wealth Advisory LLC acquired a new position in shares of Coterra Energy during the 4th quarter worth $46,000. Finally, Nemes Rush Group LLC purchased a new stake in Coterra Energy during the fourth quarter worth about $48,000. Hedge funds and other institutional investors own 87.92% of the company's stock.

Insider Activity

In other news, SVP Kevin William Smith sold 25,733 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the sale, the senior vice president now directly owns 106,114 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CTRA shares. Pickering Energy Partners cut Coterra Energy from an "outperform" rating to a "neutral" rating in a research report on Tuesday, May 20th. Williams Trading set a $37.00 price target on shares of Coterra Energy in a research report on Wednesday, March 5th. Barclays reduced their target price on Coterra Energy from $37.00 to $35.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Scotiabank cut their price target on Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Finally, Morgan Stanley set a $28.00 price target on shares of Coterra Energy in a research note on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $33.50.

Coterra Energy Price Performance

Shares of CTRA stock traded up $0.44 during mid-day trading on Friday, hitting $26.58. 7,286,586 shares of the stock traded hands, compared to its average volume of 6,450,729. 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 company's 50-day simple moving average is $24.95 and its 200-day simple moving average is $26.35. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The firm has a market cap of $20.29 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 0.59 and a beta of 0.34.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.71 by $0.09. The company 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%. The business's revenue for the quarter was up 32.9% on a year-over-year basis. During the same period last year, the company posted $0.51 earnings per share. As a group, 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 disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy's payout ratio is 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.