Coterra Energy Inc. (NYSE:CTRA) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC increased its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 95.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,421 shares of the company's stock after buying an additional 11,459 shares during the period. GAMMA Investing LLC's holdings in Coterra Energy were worth $677,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Investors Research Corp lifted its holdings in Coterra Energy by 45.2% in the 1st quarter. Investors Research Corp now owns 1,311 shares of the company's stock valued at $38,000 after purchasing an additional 408 shares in the last quarter. Plato Investment Management Ltd purchased a new position in Coterra Energy in the 4th quarter valued at about $43,000. VSM Wealth Advisory LLC purchased a new position in Coterra Energy in the 4th quarter valued at about $46,000. Nemes Rush Group LLC acquired a new position in shares of Coterra Energy during the 4th quarter valued at about $48,000. Finally, Optiver Holding B.V. acquired a new position in shares of Coterra Energy during the 4th quarter valued at about $50,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on CTRA shares. Piper Sandler dropped their target price 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. Scotiabank dropped their target price on shares of Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Barclays dropped their target price on shares of Coterra Energy from $37.00 to $35.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. UBS Group decreased their price target on Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $31.00 price target on shares of Coterra Energy in a report on Tuesday. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $33.00.

Coterra Energy Stock Performance

CTRA traded up $0.16 during trading hours on Friday, hitting $25.19. 3,494,277 shares of the stock were exchanged, compared to its average volume of 6,514,172. The stock has a 50-day simple moving average of $25.20 and a 200-day simple moving average of $26.40. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The stock has a market cap of $19.22 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 0.34 and a beta of 0.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.86.

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, topping the consensus estimate of $0.71 by $0.09. Coterra Energy had a return on equity of 10.61% and a net margin of 21.67%. The firm had revenue of $924.00 million for the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the company earned $0.51 earnings per share. The firm's revenue for the quarter was up 32.9% on a year-over-year basis. Analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.49%. The ex-dividend date was Thursday, May 15th. Coterra Energy's dividend payout ratio is presently 51.16%.

Coterra Energy 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.