Silvercrest Asset Management Group LLC Buys Shares of 488,615 Coterra Energy Inc. (NYSE:CTRA)

Silvercrest Asset Management Group LLC acquired a new position in Coterra Energy Inc. (NYSE:CTRA - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 488,615 shares of the company's stock, valued at approximately $12,479,000. Silvercrest Asset Management Group LLC owned approximately 0.07% of Coterra Energy at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Barclays PLC raised its stake in Coterra Energy by 3.1% during the third quarter. Barclays PLC now owns 2,147,263 shares of the company's stock valued at $51,425,000 after buying an additional 64,753 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company's stock worth $29,000 after purchasing an additional 744 shares during the period. Park Avenue Securities LLC increased its stake in Coterra Energy by 94.5% during the fourth quarter. Park Avenue Securities LLC now owns 50,863 shares of the company's stock valued at $1,299,000 after purchasing an additional 24,710 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Coterra Energy by 9.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 61,241 shares of the company's stock worth $1,564,000 after purchasing an additional 5,273 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in shares of Coterra Energy during the fourth quarter worth $257,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Price Performance

Shares of NYSE CTRA traded down $0.39 during midday trading on Wednesday, reaching $24.50. The company's stock had a trading volume of 7,166,170 shares, compared to its average volume of 6,429,604. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company has a market cap of $18.70 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 0.59 and a beta of 0.33. The company has a 50 day moving average price of $25.98 and a 200 day moving average price of $26.40. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

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

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Thursday, May 15th. Coterra Energy's dividend payout ratio (DPR) is presently 51.16%.

Insider Activity

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the firm's stock in a transaction dated 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 sale, the senior vice president now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the business's stock in a transaction 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 transaction, the senior vice president now owns 106,114 shares in the company, valued at approximately $3,086,856.26. This represents a 19.52% 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.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CTRA shares. Barclays lowered their price objective on shares of Coterra Energy from $37.00 to $35.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. The Goldman Sachs Group increased their price target on Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. UBS Group cut their price target on Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Williams Trading set a $37.00 target price on Coterra Energy in a research report on Wednesday, March 5th. Finally, Raymond James reduced their price target on shares of Coterra Energy from $41.00 to $37.00 and set an "outperform" rating for the company in a report on Wednesday, March 12th. Four research 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's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.