Worldquant Millennium Advisors LLC Increases Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Worldquant Millennium Advisors LLC raised its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 18.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 965,618 shares of the company's stock after acquiring an additional 148,863 shares during the quarter. Worldquant Millennium Advisors LLC owned approximately 0.13% of Coterra Energy worth $24,662,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CTRA. MCF Advisors LLC boosted its position in Coterra Energy by 230.5% during the fourth 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 last quarter. R Squared Ltd acquired a new position in shares of Coterra Energy during the 4th quarter worth approximately $32,000. Plato Investment Management Ltd acquired a new position in shares of Coterra Energy during the 4th quarter worth approximately $43,000. Deseret Mutual Benefit Administrators grew its position 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 purchasing an additional 429 shares in the last quarter. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Coterra Energy in the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 87.92% of the company's stock.

Insider Transactions at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction on 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 $3,374,617.40. This represents a 21.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the transaction, the senior vice president now owns 106,114 shares in the company, valued at approximately $3,086,856.26. This represents a 19.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

Coterra Energy Stock Up 0.4%

Coterra Energy stock traded up $0.10 during midday trading on Monday, reaching $24.51. The company's stock had a trading volume of 4,432,615 shares, compared to its average volume of 6,426,205. The business has a 50-day simple moving average of $25.82 and a 200-day simple moving average of $26.45. The company has a market cap of $18.71 billion, a P/E ratio of 14.77, a P/E/G ratio of 0.59 and a beta of 0.33. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. 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 (NYSE:CTRA - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.80 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 firm had revenue of $924.00 million for the quarter, compared to the consensus estimate of $1.92 billion. During the same period last year, the firm posted $0.51 EPS. The company's revenue was up 32.9% on a year-over-year basis. On average, research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Thursday, May 15th. Coterra Energy's payout ratio is 51.16%.

Analyst Ratings Changes

Several analysts have issued reports on CTRA shares. The Goldman Sachs Group upped their target price on Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. 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 note on Wednesday, March 12th. Wells Fargo & Company raised their price target on shares of Coterra Energy from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Williams Trading set a $37.00 price objective on Coterra Energy in a research report on Wednesday, March 5th. Finally, 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 report on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $33.50.

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.