Harbor Investment Advisory LLC Has $512,000 Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Harbor Investment Advisory LLC raised its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 1,286.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,722 shares of the company's stock after purchasing an additional 16,444 shares during the quarter. Harbor Investment Advisory LLC's holdings in Coterra Energy were worth $512,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of Coterra Energy in the fourth quarter valued at $32,000. Investors Research Corp boosted its position 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 buying an additional 408 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in shares of Coterra Energy during the fourth quarter valued at about $43,000. Deseret Mutual Benefit Administrators boosted its stake in shares of Coterra Energy by 33.2% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company's stock valued at $44,000 after buying an additional 429 shares during the last quarter. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Coterra Energy during the fourth quarter worth approximately $46,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

Shares of NYSE:CTRA traded up $0.76 on Friday, hitting $25.59. The company's stock had a trading volume of 4,691,568 shares, compared to its average volume of 6,419,766. The company has a market capitalization of $19.53 billion, a price-to-earnings ratio of 15.42, 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. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The stock's 50-day moving average is $25.00 and its two-hundred day moving average is $26.39.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.09. The firm had revenue of $924.00 million during the quarter, compared to analyst estimates of $1.92 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. Coterra Energy's revenue was up 32.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 EPS. On average, equities research analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The company 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. The ex-dividend date was Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 3.44%. Coterra Energy's dividend payout ratio (DPR) is 51.16%.

Insiders Place Their Bets

In related 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 completion of the sale, 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 filing with the SEC, which is available at the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy 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 completion of 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 insiders.

Analyst Ratings Changes

CTRA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their target price on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Wells Fargo & Company boosted their price target on Coterra Energy from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Johnson Rice upgraded Coterra Energy from a "hold" rating to an "accumulate" rating and raised their price objective for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. Bank of America dropped their target price on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Finally, Mizuho reduced their price target on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Four 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.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $33.50.

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.