Mackenzie Financial Corp Raises Position in Coterra Energy Inc. (NYSE:CTRA)

Mackenzie Financial Corp grew its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 446.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 784,759 shares of the company's stock after buying an additional 641,138 shares during the period. Mackenzie Financial Corp owned 0.11% of Coterra Energy worth $20,043,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in Coterra Energy by 1.9% in the 4th quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company's stock worth $1,852,385,000 after purchasing an additional 1,318,754 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Coterra Energy by 5.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company's stock worth $599,356,000 after acquiring an additional 1,310,965 shares during the last quarter. Geode Capital Management LLC lifted its position in Coterra Energy by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company's stock worth $486,528,000 after acquiring an additional 96,059 shares during the period. Victory Capital Management Inc. grew its stake in Coterra Energy by 5.0% during the 4th quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company's stock valued at $454,834,000 after purchasing an additional 845,609 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Coterra Energy by 9.0% in the fourth quarter. Invesco Ltd. now owns 12,232,484 shares of the company's stock valued at $312,418,000 after purchasing an additional 1,011,166 shares during the period. Hedge funds and other institutional investors own 87.92% of the company's stock.

Coterra Energy Price Performance

Shares of NYSE CTRA traded down $0.40 during mid-day trading on Friday, reaching $24.33. The company's stock had a trading volume of 12,202,406 shares, compared to its average volume of 7,059,440. The stock has a 50-day moving average of $25.47 and a two-hundred day moving average of $26.42. 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 stock has a market capitalization of $18.57 billion, a P/E ratio of 14.66, a P/E/G ratio of 0.59 and a beta of 0.33. 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 released its earnings results on Monday, May 5th. The company reported $0.80 earnings per share 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 for the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the company posted $0.51 EPS. The business's revenue was up 32.9% on a year-over-year basis. On average, equities research analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Thursday, May 15th. Coterra Energy's dividend payout ratio is currently 51.16%.

Insider Activity

In other Coterra Energy 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin William Smith sold 25,733 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was 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 $3,086,856.26. The trade was a 19.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Bank of America lowered their price target 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. Piper Sandler reduced their price objective on Coterra Energy from $37.00 to $36.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Pickering Energy Partners downgraded Coterra Energy from an "outperform" rating to a "neutral" rating in a research note on Tuesday, May 20th. Finally, UBS Group dropped their target price on Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Coterra Energy presently has a consensus rating of "Moderate Buy" and a consensus price target 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.