Coterra Energy Inc. (NYSE:CTRA) Shares Purchased by Viking Fund Management LLC

Viking Fund Management LLC increased its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 6.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 310,000 shares of the company's stock after acquiring an additional 20,000 shares during the period. Coterra Energy comprises about 1.3% of Viking Fund Management LLC's investment portfolio, making the stock its 28th biggest holding. Viking Fund Management LLC's holdings in Coterra Energy were worth $8,959,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in shares of Coterra Energy in the 4th quarter worth $32,000. Investors Research Corp increased its position in Coterra Energy by 45.2% in the first quarter. Investors Research Corp now owns 1,311 shares of the company's stock worth $38,000 after buying an additional 408 shares in the last quarter. Plato Investment Management Ltd purchased a new position in shares of Coterra Energy during the 4th quarter valued at about $43,000. Deseret Mutual Benefit Administrators lifted its position in shares of Coterra Energy by 33.2% during the 4th 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 in the last quarter. Finally, VSM Wealth Advisory LLC bought a new position in shares of Coterra Energy during the 4th quarter valued at approximately $46,000. Hedge funds and other institutional investors own 87.92% of the company's stock.

Coterra Energy Trading Down 0.3%

Shares of CTRA traded down $0.09 during midday trading on Thursday, hitting $24.81. The stock had a trading volume of 5,425,096 shares, compared to its average volume of 6,415,843. The stock's 50 day moving average is $25.15 and its 200 day moving average is $26.40. The firm has a market cap of $18.93 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 0.59 and a beta of 0.33. 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 Inc. has a 1 year low of $22.30 and a 1 year high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.09. The company had revenue of $924.00 million for the quarter, compared to analyst estimates 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 for the quarter was up 32.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 EPS. As a group, analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were paid a $0.22 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 3.55%. Coterra Energy's payout ratio is 51.16%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Raymond James lowered their price target on shares of Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a report on Wednesday, March 12th. Williams Trading set a $37.00 target price on shares of Coterra Energy in a report on Wednesday, March 5th. The Goldman Sachs Group raised their price target on Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. dropped their price objective on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, Piper Sandler cut their target price on Coterra Energy from $37.00 to $36.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. 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's stock. According to data from MarketBeat, Coterra Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.50.

Insider Transactions at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the transaction, the senior vice president now owns 106,114 shares of the company's stock, valued at $3,086,856.26. This trade represents a 19.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of the business's stock in a transaction dated Monday, March 10th. The shares were 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 of the company's stock, valued at approximately $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. 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.