Zurich Insurance Group Ltd FI Buys New Position 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 fourth quarter, according to its most recent 13F filing with the SEC. 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 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CTRA. Barclays PLC raised its stake in Coterra Energy by 3.1% in the 3rd quarter. Barclays PLC now owns 2,147,263 shares of the company's stock valued at $51,425,000 after acquiring an additional 64,753 shares during the period. Park Avenue Securities LLC raised its stake in Coterra Energy by 94.5% in the 4th quarter. Park Avenue Securities LLC now owns 50,863 shares of the company's stock valued at $1,299,000 after acquiring an additional 24,710 shares during the period. Merit Financial Group LLC bought a new stake in Coterra Energy in the 4th quarter valued at about $257,000. Arkadios Wealth Advisors raised its stake in Coterra Energy by 3.8% in the 4th quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company's stock valued at $288,000 after acquiring an additional 413 shares during the period. Finally, HB Wealth Management LLC grew its holdings in Coterra Energy by 12.5% during the 4th quarter. HB Wealth Management LLC now owns 9,583 shares of the company's stock valued at $245,000 after buying an additional 1,061 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Price Performance

NYSE:CTRA traded up $0.10 during mid-day trading on Friday, reaching $24.51. The stock had a trading volume of 4,432,615 shares, compared to its average volume of 6,426,205. The firm has a 50 day moving average price of $25.82 and a two-hundred day moving average price of $26.43. The stock has a market capitalization of $18.71 billion, a P/E ratio of 14.77, a P/E/G ratio of 0.59 and a beta of 0.33. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its earnings results 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 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%. Coterra Energy's quarterly revenue was up 32.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS. As a group, analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given 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 payout ratio is 51.16%.

Insider Buying and Selling

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the business'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 completion of the sale, the senior vice president now owns 106,114 shares in the company, valued at approximately $3,086,856.26. The trade was a 19.52% decrease in their ownership of the stock. The sale 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 business'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 value of $941,735.74. Following the completion of the sale, the senior vice president now owns 126,770 shares of the company's stock, valued at $3,374,617.40. The trade was a 21.82% decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CTRA has been the subject of a number of recent analyst reports. Scotiabank reduced their target price on Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Bank of America reduced their target price on Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Jefferies Financial Group lifted their target price on Coterra Energy from $26.00 to $28.00 and gave the company a "hold" rating in a report on Tuesday, February 4th. Barclays reduced their target price on Coterra Energy from $37.00 to $35.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, Morgan Stanley set a $28.00 target price on Coterra Energy in a 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Coterra Energy presently has an average rating of "Moderate Buy" and an average target price of $33.50.

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.