Jacobs Levy Equity Management Inc. Invests $19.62 Million in Coterra Energy Inc. (NYSE:CTRA)

Jacobs Levy Equity Management Inc. purchased a new position in Coterra Energy Inc. (NYSE:CTRA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 768,333 shares of the company's stock, valued at approximately $19,623,000. Jacobs Levy Equity Management Inc. owned approximately 0.10% of Coterra Energy at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CTRA. Janus Henderson Group PLC grew its position in shares of Coterra Energy by 2.3% in the 4th quarter. Janus Henderson Group PLC now owns 75,678 shares of the company's stock worth $1,933,000 after buying an additional 1,688 shares during the period. Jefferies Financial Group Inc. increased its stake in shares of Coterra Energy by 152.0% during the fourth quarter. Jefferies Financial Group Inc. now owns 453,122 shares of the company's stock valued at $11,573,000 after purchasing an additional 273,345 shares in the last quarter. Focus Partners Wealth grew its stake in shares of Coterra Energy by 26.5% in the 4th quarter. Focus Partners Wealth now owns 613,006 shares of the company's stock worth $15,664,000 after buying an additional 128,555 shares during the last quarter. FORA Capital LLC grew its stake in shares of Coterra Energy by 8.5% in the fourth quarter. FORA Capital LLC now owns 19,590 shares of the company's stock worth $500,000 after acquiring an additional 1,537 shares during the last quarter. Finally, Clark Capital Management Group Inc. increased its holdings in shares of Coterra Energy by 47.4% during the fourth quarter. Clark Capital Management Group Inc. now owns 1,615,794 shares of the company's stock valued at $41,267,000 after acquiring an additional 519,670 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

Shares of CTRA stock traded up $0.11 during trading hours on Friday, reaching $24.80. 6,938,939 shares of the company traded hands, compared to its average volume of 6,385,832. The firm has a 50-day moving average price of $26.13 and a 200 day moving average price of $26.38. The company has a market cap of $18.93 billion, a P/E ratio of 14.94, a P/E/G 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 12-month low of $22.30 and a 12-month high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings results 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 business 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 company's revenue for the quarter was up 32.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. As a group, sell-side analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently declared 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. The ex-dividend date is 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 presently 51.16%.

Insiders Place Their Bets

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the company'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 transaction, the senior vice president now directly owns 126,770 shares in the company, valued at $3,374,617.40. This represents a 21.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the sale, 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 disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company raised their price target on shares of Coterra Energy from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Bank of America lowered their price objective on Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Mizuho reduced their target price on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, Piper Sandler lowered their price target on Coterra Energy from $37.00 to $36.00 and set an "overweight" rating on the stock in a report on Tuesday. Three 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 company's stock. According to data from MarketBeat.com, Coterra Energy has an average rating of "Moderate Buy" and an average target price of $33.50.

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.