Coterra Energy Inc. (NYSE:CTRA) Stock Position Raised by Royal Bank of Canada

Royal Bank of Canada raised its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 15.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CTRA. Sterling Capital Management LLC raised its stake in shares of Coterra Energy by 5,744.3% in the 4th quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company's stock valued at $93,520,000 after acquiring an additional 3,599,042 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Coterra Energy by 117.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company's stock worth $123,036,000 after purchasing an additional 2,600,801 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Coterra Energy during the 4th quarter worth approximately $61,461,000. Man Group plc grew its holdings in shares of Coterra Energy by 81.4% during the 4th quarter. Man Group plc now owns 4,842,621 shares of the company's stock worth $123,681,000 after purchasing an additional 2,172,931 shares in the last quarter. Finally, Schroder Investment Management Group grew its holdings in shares of Coterra Energy by 18.2% during the 4th quarter. Schroder Investment Management Group now owns 11,776,525 shares of the company's stock worth $300,537,000 after purchasing an additional 1,809,615 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Trading Down 1.2%

CTRA stock opened at $24.50 on Tuesday. The company has a market cap of $18.70 billion, a P/E ratio of 14.76, a PEG ratio of 0.59 and a beta of 0.33. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month 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. The business has a fifty day moving average of $26.08 and a 200-day moving average of $26.43.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its 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 company had revenue of $924.00 million during the quarter, compared to the consensus estimate of $1.92 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm's quarterly revenue was up 32.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 earnings per share. As a group, equities research analysts expect 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 given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.59%. Coterra Energy's payout ratio is currently 51.16%.

Insider Transactions at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy 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 directly owns 106,114 shares of the company's stock, valued at $3,086,856.26. The trade was a 19.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the transaction, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. This trade represents a 21.82% decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CTRA. UBS Group decreased their price objective on Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Jefferies Financial Group lifted their price objective on Coterra Energy from $26.00 to $28.00 and gave the stock a "hold" rating in a report on Tuesday, February 4th. Raymond James decreased their price objective on Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a report on Wednesday, March 12th. The Goldman Sachs Group lifted their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Finally, Johnson Rice upgraded Coterra Energy from a "hold" rating to an "accumulate" rating and raised their target price for the stock from $34.00 to $37.00 in a research report on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $33.50.

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.

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