USS Investment Management Ltd lifted its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 110.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 244,318 shares of the company's stock after buying an additional 128,344 shares during the period. USS Investment Management Ltd's holdings in Coterra Energy were worth $6,241,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC grew its position in Coterra Energy by 5,744.3% during the fourth quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company's stock valued at $93,520,000 after acquiring an additional 3,599,042 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Coterra Energy by 117.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company's stock valued at $123,036,000 after purchasing an additional 2,600,801 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Coterra Energy during the 4th quarter worth about $61,461,000. Zurich Insurance Group Ltd FI acquired a new stake in Coterra Energy during the 4th quarter worth approximately $57,877,000. Finally, Man Group plc increased its position 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 purchasing an additional 2,172,931 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on CTRA shares. Susquehanna decreased their price objective 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. Jefferies Financial Group lifted their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the company a "hold" rating in a report on Tuesday, February 4th. Piper Sandler decreased their price target on shares of Coterra Energy from $37.00 to $36.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Raymond James cut their price objective on Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 12th. Finally, Scotiabank reduced their price objective on Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $33.50.
Check Out Our Latest Report on CTRA
Insider Activity at Coterra Energy
In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the transaction, the senior vice president now owns 106,114 shares of the company's stock, valued at $3,086,856.26. The trade was a 19.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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 transaction of $941,735.74. Following the sale, the senior vice president now directly owns 126,770 shares in the company, valued at $3,374,617.40. This trade 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 corporate insiders.
Coterra Energy Stock Up 0.4%
Shares of Coterra Energy stock traded up $0.10 on Monday, hitting $24.51. 4,432,615 shares of the company's stock traded hands, compared to its average volume of 6,426,205. 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 stock has a market cap of $18.71 billion, a P/E ratio of 14.77, a PEG ratio of 0.59 and a beta of 0.33. The firm's 50-day moving average is $25.82 and its 200 day moving average is $26.45.
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 analysts' consensus estimates of $0.71 by $0.09. The firm had revenue of $924.00 million for the quarter, compared to the consensus estimate of $1.92 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm's revenue was up 32.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 EPS. Equities analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current year.
Coterra Energy Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 3.59%. Coterra Energy's dividend payout ratio (DPR) is 51.16%.
Coterra Energy Profile
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Free Report)
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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