Silvercrest Asset Management Group LLC Takes Position in Coterra Energy Inc. (NYSE:CTRA)

Silvercrest Asset Management Group LLC acquired a new stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTRA. AdvisorNet Financial Inc raised its holdings in shares of Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company's stock valued at $29,000 after purchasing an additional 744 shares in the last quarter. MCF Advisors LLC increased its holdings in Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company's stock valued at $32,000 after buying an additional 869 shares during the last quarter. R Squared Ltd purchased a new position in Coterra Energy in the fourth quarter valued at $32,000. Plato Investment Management Ltd acquired a new stake in Coterra Energy in the fourth quarter valued at $43,000. Finally, Deseret Mutual Benefit Administrators lifted its holdings in Coterra Energy by 33.2% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company's stock worth $44,000 after buying an additional 429 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on CTRA. Wells Fargo & Company raised their target price on Coterra Energy from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Raymond James dropped their price target on shares of Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 12th. Jefferies Financial Group boosted their price objective on shares of Coterra Energy from $26.00 to $28.00 and gave the stock a "hold" rating in a research report on Tuesday, February 4th. Williams Trading set a $37.00 target price on shares of Coterra Energy in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. reduced 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 report on Thursday, March 13th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $33.50.

Coterra Energy Price Performance

Shares of NYSE CTRA traded up $0.01 on Friday, hitting $24.42. The company's stock had a trading volume of 1,168,353 shares, compared to its average volume of 7,074,896. The stock has a 50 day moving average of $25.91 and a 200-day moving average of $26.41. The company has a market capitalization of $18.64 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 0.59 and a beta of 0.33. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month 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.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $1.92 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. Coterra Energy'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 EPS. As a group, research analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be given a $0.22 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.88 annualized dividend and a dividend yield of 3.60%. Coterra Energy's dividend payout ratio is currently 51.16%.

Insider Activity at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kevin William Smith sold 25,733 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total transaction of $748,572.97. Following the sale, the senior vice president now 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 disclosure for this sale can be found here. Corporate insiders own 1.70% of the company's stock.

Coterra Energy 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.