Frontier Capital Management Co. LLC Sells 1,509,144 Shares of Coterra Energy Inc. (NYSE:CTRA)

Frontier Capital Management Co. LLC decreased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 99.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,388 shares of the company's stock after selling 1,509,144 shares during the quarter. Frontier Capital Management Co. LLC's holdings in Coterra Energy were worth $291,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. City State Bank acquired a new position in shares of Coterra Energy in the fourth quarter valued at approximately $26,000. AdvisorNet Financial Inc boosted its holdings in shares of Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company's stock valued at $29,000 after buying an additional 744 shares during the period. MCF Advisors LLC boosted its holdings in shares of Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company's stock valued at $32,000 after buying an additional 869 shares during the period. R Squared Ltd acquired a new position in shares of Coterra Energy in the fourth quarter valued at approximately $32,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Coterra Energy in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 87.92% of the company's stock.

Insider Activity

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 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 trade represents a 19.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $941,735.74. Following the transaction, the senior vice president now directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. This represents a 21.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.50% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on CTRA shares. Bank of America reduced their price target 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 cut their price objective on shares of Coterra Energy from $37.00 to $36.00 and set an "overweight" rating on the stock in a research report on Tuesday. Scotiabank cut their price objective on shares of Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Morgan Stanley set a $28.00 price objective on shares of Coterra Energy in a research report on Tuesday, April 15th. Finally, Susquehanna cut their price objective on shares of Coterra Energy from $34.00 to $32.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Three investment 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 company's stock. According to data from MarketBeat.com, Coterra Energy currently has an average rating of "Moderate Buy" and a consensus price target of $33.50.

Coterra Energy Stock Performance

CTRA stock traded up $0.12 during trading hours on Wednesday, reaching $24.88. The stock had a trading volume of 7,315,945 shares, compared to its average volume of 6,366,764. The stock has a market capitalization of $18.99 billion, a PE ratio of 14.99, 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. The stock has a 50-day simple moving average of $26.26 and a 200 day simple moving average of $26.39. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate 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 company's revenue was up 32.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 earnings per share. Analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Thursday, May 15th. Coterra Energy's payout ratio is presently 51.16%.

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.