OLD National Bancorp IN Buys 27,998 Shares of Coterra Energy Inc. (NYSE:CTRA)

OLD National Bancorp IN boosted its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 365,904 shares of the company's stock after acquiring an additional 27,998 shares during the period. OLD National Bancorp IN's holdings in Coterra Energy were worth $10,575,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Sterling Capital Management LLC raised its position in shares of Coterra Energy by 5,744.3% in the fourth quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company's stock valued at $93,520,000 after purchasing an additional 3,599,042 shares during the period. Envestnet Asset Management Inc. increased its holdings in Coterra Energy by 117.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company's stock worth $123,036,000 after acquiring an additional 2,600,801 shares during the period. Raymond James Financial Inc. bought a new stake in Coterra Energy during the 4th quarter worth approximately $61,461,000. Zurich Insurance Group Ltd FI bought a new stake in Coterra Energy during the 4th quarter worth approximately $57,877,000. Finally, Man Group plc increased its holdings in Coterra Energy by 81.4% during the 4th quarter. Man Group plc now owns 4,842,621 shares of the company's stock worth $123,681,000 after acquiring an additional 2,172,931 shares during the period. Institutional investors own 87.92% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CTRA. Morgan Stanley set a $28.00 target price on shares of Coterra Energy in a report on Tuesday, April 15th. Pickering Energy Partners lowered shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a report on Tuesday, May 20th. Wells Fargo & Company boosted their price target on shares of Coterra Energy from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. JPMorgan Chase & Co. cut their price target on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, Susquehanna cut their price target on shares of Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.50.

Coterra Energy Trading Up 3.1%

NYSE:CTRA opened at $25.59 on Friday. The company has a fifty day moving average of $25.00 and a 200 day moving average of $26.39. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $19.53 billion, a P/E ratio of 15.42, a P/E/G ratio of 0.59 and a beta of 0.33.

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

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.22 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.88 annualized dividend and a yield of 3.44%. Coterra Energy's dividend payout ratio (DPR) is presently 51.16%.

Insider Buying and Selling

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the firm's stock in a transaction dated 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the sale, the senior vice president now owns 126,770 shares of the company's stock, valued at approximately $3,374,617.40. This 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 owned by company 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.

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