Freestone Grove Partners LP Purchases Shares of 183,283 Coterra Energy Inc. (NYSE:CTRA)

Freestone Grove Partners LP purchased a new position in Coterra Energy Inc. (NYSE:CTRA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 183,283 shares of the company's stock, valued at approximately $4,681,000.

Other large investors also recently modified their holdings of the company. Sterling Capital Management LLC raised its position in shares of Coterra Energy by 5,744.3% in the 4th quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company's stock worth $93,520,000 after purchasing an additional 3,599,042 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Coterra Energy by 117.3% during 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 during the last quarter. Raymond James Financial Inc. bought a new position in shares of Coterra Energy during the fourth quarter valued at $61,461,000. Schroder Investment Management Group raised its position in Coterra Energy by 18.2% in the 4th quarter. Schroder Investment Management Group now owns 11,776,525 shares of the company's stock worth $300,537,000 after buying an additional 1,809,615 shares during the last quarter. Finally, Truist Financial Corp raised its holdings in shares of Coterra Energy by 668.0% during the fourth quarter. Truist Financial Corp now owns 1,616,660 shares of the company's stock valued at $41,289,000 after purchasing an additional 1,406,170 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. JPMorgan Chase & Co. reduced their price objective on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Bank of America reduced their target price on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Piper Sandler boosted their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the company an "overweight" rating in a research report on Thursday, March 6th. Susquehanna decreased their target price on Coterra Energy from $34.00 to $32.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group boosted 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. Three research 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 stock currently has a consensus rating of "Moderate Buy" and an average target price of $33.85.

Coterra Energy Trading Down 1.3 %

NYSE:CTRA traded down $0.30 during midday trading on Wednesday, hitting $22.63. 11,365,823 shares of the company traded hands, compared to its average volume of 7,013,750. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The firm has a market capitalization of $17.29 billion, a P/E ratio of 13.63, a P/E/G ratio of 0.59 and a beta of 0.33. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The firm's fifty day moving average is $26.51 and its 200-day moving average is $26.38.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.71 by $0.09. The company 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 quarter last year, the firm posted $0.51 EPS. On average, sell-side analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.88 annualized dividend and a dividend yield of 3.89%. Coterra Energy's dividend payout ratio is currently 58.28%.

Insider Buying and Selling

In other news, SVP Kevin William Smith sold 25,733 shares of the company's 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 transaction, the senior vice president now directly owns 106,114 shares of the company's stock, valued at approximately $3,086,856.26. This represents a 19.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the firm's stock in a transaction dated 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 directly owns 126,770 shares of the company's stock, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

About Coterra Energy

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.