Cypress Asset Management Inc. TX Acquires New Stake in Coterra Energy Inc. (NYSE:CTRA)

Cypress Asset Management Inc. TX acquired a new stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,190 shares of the company's stock, valued at approximately $295,000.

Other large investors have also made changes to their positions in the company. Dark Forest Capital Management LP acquired a new position in Coterra Energy during the fourth quarter worth $942,000. State of Tennessee Department of Treasury raised its position in Coterra Energy by 7.1% during the fourth quarter. State of Tennessee Department of Treasury now owns 472,799 shares of the company's stock worth $12,075,000 after acquiring an additional 31,425 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Coterra Energy during the fourth quarter worth $641,000. Barclays PLC raised its position in Coterra Energy by 3.1% during the third quarter. Barclays PLC now owns 2,147,263 shares of the company's stock worth $51,425,000 after acquiring an additional 64,753 shares during the period. Finally, Intech Investment Management LLC grew its holdings in shares of Coterra Energy by 56.7% during the fourth quarter. Intech Investment Management LLC now owns 67,858 shares of the company's stock worth $1,733,000 after buying an additional 24,560 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Down 1.2%

NYSE:CTRA traded down $0.29 during mid-day trading on Wednesday, hitting $24.57. The stock had a trading volume of 7,406,366 shares, compared to its average volume of 6,434,401. The stock has a 50-day simple moving average of $25.56 and a two-hundred day simple moving average of $26.42. The company has a market capitalization of $18.75 billion, a PE ratio of 14.80, 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 current ratio of 1.61, a quick ratio of 1.56 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 for the quarter, beating the consensus estimate of $0.71 by $0.09. The firm had revenue of $924.00 million for 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 firm's revenue was up 32.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. On average, equities research analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be paid a $0.22 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.88 annualized dividend and a yield of 3.58%. Coterra Energy's dividend payout ratio is currently 51.16%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. UBS Group dropped their target price on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a report on Friday, May 9th. Wells Fargo & Company upped their price objective on shares of Coterra Energy from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Raymond James dropped their price objective on shares of Coterra Energy from $41.00 to $37.00 and set an "outperform" rating for the company in a report on Wednesday, March 12th. Jefferies Financial Group upped their price objective on shares of Coterra Energy from $26.00 to $28.00 and gave the company a "hold" rating in a report on Tuesday, February 4th. Finally, Mizuho dropped their price objective on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $33.50.

Insider Buying and Selling at Coterra Energy

In other news, SVP Kevin William Smith sold 25,733 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 106,114 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the firm's stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

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.