USS Investment Management Ltd Grows Position in Coterra Energy Inc. (NYSE:CTRA)

USS Investment Management Ltd grew its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 110.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 244,318 shares of the company's stock after acquiring an additional 128,344 shares during the quarter. USS Investment Management Ltd's holdings in Coterra Energy were worth $6,241,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. MCF Advisors LLC boosted its position 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 stake in Coterra Energy in the fourth quarter valued at approximately $32,000. Plato Investment Management Ltd purchased a new stake in Coterra Energy in the fourth quarter valued at approximately $43,000. Deseret Mutual Benefit Administrators boosted its position in Coterra Energy by 33.2% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company's stock valued at $44,000 after buying an additional 429 shares during the last quarter. Finally, VSM Wealth Advisory LLC purchased a new stake in Coterra Energy in the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 87.92% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CTRA. Williams Trading set a $37.00 target price on Coterra Energy in a research report on Wednesday, March 5th. Susquehanna lowered their price objective on Coterra Energy from $34.00 to $32.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Barclays lowered their price objective on Coterra Energy from $37.00 to $35.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Johnson Rice upgraded Coterra Energy from a "hold" rating to an "accumulate" rating and upped their price objective for the stock from $34.00 to $37.00 in a research report on Wednesday, March 12th. Finally, Morgan Stanley set a $28.00 price objective on Coterra Energy in a research report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Coterra Energy currently has an average rating of "Moderate Buy" and a consensus target price of $33.50.

Coterra Energy Price Performance

NYSE CTRA traded down $0.31 during mid-day trading on Wednesday, hitting $24.55. The stock had a trading volume of 1,472,732 shares, compared to its average volume of 6,403,766. The firm's 50 day moving average is $25.64 and its 200 day moving average is $26.44. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve 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. The stock has a market capitalization of $18.74 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 0.59 and a beta of 0.33.

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

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Thursday, May 15th. Coterra Energy's dividend payout ratio (DPR) is presently 51.16%.

Insiders Place Their Bets

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 transaction of $748,572.97. Following the completion of the transaction, the senior vice president now directly owns 106,114 shares in the company, valued at approximately $3,086,856.26. This represents a 19.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the 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 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 disclosure for this sale can be found here. Corporate insiders own 1.70% of the company's stock.

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.