Rhumbline Advisers Boosts Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Rhumbline Advisers lifted its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 14.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,482,426 shares of the company's stock after purchasing an additional 187,296 shares during the period. Rhumbline Advisers owned about 0.19% of Coterra Energy worth $42,842,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Fifth Third Wealth Advisors LLC increased its stake in shares of Coterra Energy by 10.1% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 10,001 shares of the company's stock valued at $289,000 after purchasing an additional 921 shares in the last quarter. Investors Research Corp boosted 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 worth $38,000 after buying an additional 408 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Coterra Energy by 5,558.5% in the 1st quarter. GAMMA Investing LLC now owns 676,867 shares of the company's stock worth $19,561,000 after buying an additional 664,905 shares during the last quarter. Quent Capital LLC boosted its holdings in Coterra Energy by 15.9% in the 1st quarter. Quent Capital LLC now owns 4,488 shares of the company's stock worth $130,000 after buying an additional 616 shares during the last quarter. Finally, Confluence Investment Management LLC boosted its holdings in Coterra Energy by 2.1% in the 1st quarter. Confluence Investment Management LLC now owns 23,309 shares of the company's stock worth $674,000 after buying an additional 472 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Pickering Energy Partners cut Coterra Energy from an "outperform" rating to a "neutral" rating in a report on Tuesday, May 20th. Mizuho lowered their price objective on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. UBS Group lowered their price objective on Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Bank of America lowered their price objective on Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Finally, Williams Trading set a $37.00 target price on Coterra Energy in a report on Wednesday, March 5th. Four equities research 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 data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $33.50.

Coterra Energy Trading Down 0.3%

Shares of CTRA stock traded down $0.09 on Thursday, hitting $24.81. The stock had a trading volume of 5,425,363 shares, compared to its average volume of 6,415,846. The company's 50 day moving average price is $25.15 and its 200-day moving average price is $26.40. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The firm has a market capitalization of $18.93 billion, a P/E ratio of 14.94, a P/E/G ratio of 0.59 and a beta of 0.33.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its 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 return on equity of 9.38% and a net margin of 21.91%. The company had revenue of $924.00 million during the quarter, compared to analysts' expectations of $1.92 billion. During the same period last year, the business posted $0.51 EPS. Coterra Energy'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 company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date was Thursday, May 15th. Coterra Energy's dividend payout ratio (DPR) is 51.16%.

Insider Activity at Coterra Energy

In other news, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction on 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the sale, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. The trade was 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 currently 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.