GF Fund Management CO. LTD. Acquires Shares of 224,491 Coterra Energy Inc. (NYSE:CTRA)

GF Fund Management CO. LTD. purchased a new position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 224,491 shares of the company's stock, valued at approximately $5,734,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dark Forest Capital Management LP purchased a new position in Coterra Energy in the 4th quarter valued at $942,000. State of Tennessee Department of Treasury lifted its stake in shares of Coterra Energy by 7.1% in the 4th 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 purchased a new stake in shares of Coterra Energy in the fourth quarter valued at about $641,000. Barclays PLC increased its stake in shares of 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 increased its stake 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 acquiring an additional 24,560 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

CTRA stock traded down $0.27 during trading on Friday, hitting $24.47. The stock had a trading volume of 2,656,546 shares, compared to its average volume of 6,413,849. The stock has a market cap of $18.67 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 0.59 and a beta of 0.33. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company's 50 day moving average price is $25.47 and its two-hundred day moving average price is $26.42. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.80 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 business had revenue of $924.00 million during the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. The company's quarterly revenue was up 32.9% compared to the same quarter last year. On average, sell-side analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy's dividend payout ratio (DPR) is 51.16%.

Insider Activity

In related news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction on 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin William Smith sold 25,733 shares of the business'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 sale, the senior vice president now directly owns 106,114 shares of the company's stock, valued at approximately $3,086,856.26. This trade represents a 19.52% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

CTRA has been the subject of a number of recent analyst reports. Raymond James reduced their price objective on shares of Coterra Energy from $41.00 to $37.00 and set an "outperform" rating for the company in a research report on Wednesday, March 12th. Scotiabank reduced their price target 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. Wells Fargo & Company upped their price objective on Coterra Energy from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Bank of America cut their price objective on Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Finally, Johnson Rice upgraded shares of Coterra Energy from a "hold" rating to an "accumulate" rating and boosted their target price for the stock from $34.00 to $37.00 in a research report on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock 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.