Cypress Asset Management Inc. TX Buys Shares of 11,190 Coterra Energy Inc. (NYSE:CTRA)

Cypress Asset Management Inc. TX purchased a new stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 11,190 shares of the company's stock, valued at approximately $295,000.

Several other institutional investors have also recently made changes to their positions in CTRA. Sterling Capital Management LLC raised its position in Coterra Energy by 5,744.3% during the fourth quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company's stock valued at $93,520,000 after purchasing an additional 3,599,042 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Coterra Energy by 117.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company's stock worth $123,036,000 after acquiring an additional 2,600,801 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Coterra Energy in the 4th quarter worth approximately $61,461,000. Zurich Insurance Group Ltd FI purchased a new stake in shares of Coterra Energy in the 4th quarter valued at $57,877,000. Finally, 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 valued at $123,681,000 after purchasing an additional 2,172,931 shares during the last quarter. Institutional investors own 87.92% of the company's stock.

Insider Activity

In related news, SVP Kevin William Smith sold 25,733 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the sale, the senior vice president now owns 106,114 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the sale, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. The trade was a 21.82% 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 Ratings Changes

Several analysts have issued reports on CTRA shares. Piper Sandler cut their price target on shares of Coterra Energy from $37.00 to $36.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Johnson Rice raised Coterra Energy from a "hold" rating to an "accumulate" rating and boosted their target price for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. Williams Trading set a $37.00 price target on shares of Coterra Energy in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their price objective 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. Finally, Susquehanna lowered their target price on shares of Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.50.

Coterra Energy Stock Performance

Shares of Coterra Energy stock traded down $0.25 during trading on Friday, hitting $24.49. 3,099,933 shares of the company's stock were exchanged, compared to its average volume of 6,415,720. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The business has a 50-day simple moving average of $25.47 and a 200-day simple moving average of $26.42. The stock has a market capitalization of $18.69 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 0.59 and a beta of 0.33.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping 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 in the prior year, the firm posted $0.51 earnings per share. The firm's quarterly revenue was up 32.9% compared to the same quarter last year. On average, research analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were paid 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 of this dividend was Thursday, May 15th. Coterra Energy's payout ratio is 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.