Coterra Energy Inc. (NYSE:CTRA) Shares Purchased by Royal Bank of Canada

Royal Bank of Canada increased its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 15.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,628,900 shares of the company's stock after purchasing an additional 477,739 shares during the period. Royal Bank of Canada owned 0.49% of Coterra Energy worth $92,681,000 at the end of the most recent reporting period.

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

Insider Transactions at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the business's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 126,770 shares of the company's stock, valued at $3,374,617.40. The trade was a 21.82% decrease in their ownership of the stock. The transaction 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 the company's stock in a transaction that occurred 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 transaction, the senior vice president now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

CTRA has been the topic of several recent research reports. Wells Fargo & Company raised their price target on Coterra Energy from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Bank of America reduced their price objective on Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Scotiabank reduced their price objective 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. Johnson Rice upgraded Coterra Energy from a "hold" rating to an "accumulate" rating and boosted their price objective for the stock from $34.00 to $37.00 in a report on Wednesday, March 12th. Finally, Morgan Stanley set a $28.00 price objective on Coterra Energy in a report on Tuesday, April 15th. Four investment 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $33.50.

Coterra Energy Stock Up 0.4%

Shares of NYSE CTRA traded up $0.10 during midday trading on Friday, hitting $24.51. The stock had a trading volume of 4,432,615 shares, compared to its average volume of 6,426,205. The business's 50 day moving average is $25.82 and its 200-day moving average is $26.45. The company has a market cap of $18.71 billion, a P/E ratio of 14.77, a PEG 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 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 issued its earnings results on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.09. The firm had revenue of $924.00 million for the quarter, compared to the consensus estimate 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 was up 32.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. As a group, analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently announced 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 of this dividend is Thursday, May 15th. This represents a $0.88 annualized dividend and a dividend yield of 3.59%. Coterra Energy's dividend payout ratio is presently 51.16%.

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.