Zurich Insurance Group Ltd FI Acquires New Holdings in Coterra Energy Inc. (NYSE:CTRA)

Zurich Insurance Group Ltd FI acquired a new stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,266,117 shares of the company's stock, valued at approximately $57,877,000. Zurich Insurance Group Ltd FI owned 0.31% of Coterra Energy at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vident Advisory LLC raised its holdings in Coterra Energy by 9.1% in the 4th quarter. Vident Advisory LLC now owns 18,565 shares of the company's stock valued at $474,000 after buying an additional 1,544 shares during the period. Westwood Holdings Group Inc. purchased a new stake in Coterra Energy in the 4th quarter valued at about $208,000. Tidal Investments LLC raised its holdings in Coterra Energy by 6.2% in the 4th quarter. Tidal Investments LLC now owns 152,882 shares of the company's stock valued at $3,905,000 after buying an additional 8,935 shares during the period. State of Wyoming raised its holdings in Coterra Energy by 406.8% in the 4th quarter. State of Wyoming now owns 14,079 shares of the company's stock valued at $360,000 after buying an additional 11,301 shares during the period. Finally, Toronto Dominion Bank raised its holdings in Coterra Energy by 5.8% in the 4th quarter. Toronto Dominion Bank now owns 386,016 shares of the company's stock valued at $9,859,000 after buying an additional 21,091 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the business's stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. The trade was a 21.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the company'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 value of $748,572.97. Following the sale, 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 disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Coterra Energy Stock Performance

Shares of CTRA opened at $24.50 on Tuesday. The stock has a 50 day moving average price of $26.08 and a 200 day moving average price of $26.43. 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 company has a market capitalization 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. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $1.92 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm's quarterly revenue was up 32.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 earnings per share. Research analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently disclosed 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 yield of 3.59%. The ex-dividend date is Thursday, May 15th. Coterra Energy's dividend payout ratio is currently 51.16%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Coterra Energy from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Susquehanna dropped their target price on Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Scotiabank dropped their target price on Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Williams Trading set a $37.00 target price on Coterra Energy in a research report on Wednesday, March 5th. Finally, Morgan Stanley set a $28.00 target price on Coterra Energy in a research report on Tuesday, April 15th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $33.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.