Lighthouse Investment Partners LLC Acquires New Position in Coterra Energy Inc. (NYSE:CTRA)

Lighthouse Investment Partners LLC purchased a new position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 30,000 shares of the company's stock, valued at approximately $766,000.

A number of other institutional investors have also recently bought and sold shares of the business. Private Trust Co. NA increased its position in Coterra Energy by 20.0% during the fourth quarter. Private Trust Co. NA now owns 2,140 shares of the company's stock worth $55,000 after buying an additional 356 shares during the last quarter. CENTRAL TRUST Co boosted its holdings in shares of Coterra Energy by 1.8% during the fourth quarter. CENTRAL TRUST Co now owns 21,881 shares of the company's stock worth $559,000 after acquiring an additional 389 shares during the period. Arkadios Wealth Advisors boosted its holdings in shares of Coterra Energy by 3.8% during the fourth quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company's stock worth $288,000 after acquiring an additional 413 shares during the period. Blue Trust Inc. boosted its holdings in shares of Coterra Energy by 5.8% during the fourth quarter. Blue Trust Inc. now owns 7,620 shares of the company's stock worth $182,000 after acquiring an additional 420 shares during the period. Finally, New York Life Investment Management LLC boosted its holdings in shares of Coterra Energy by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 99,584 shares of the company's stock worth $2,543,000 after acquiring an additional 421 shares during the period. Institutional investors and hedge funds own 87.92% of the company's stock.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the company's stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 106,114 shares in the company, valued at approximately $3,086,856.26. This represents a 19.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the company's stock in a transaction on 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 owns 126,770 shares of the company's stock, valued at $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. Company insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

CTRA has been the subject of a number of research analyst reports. Morgan Stanley set a $28.00 price objective on Coterra Energy in a report on Tuesday, April 15th. Bank of America cut their price target on Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Mizuho cut their target price on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Barclays lowered their price target on shares of Coterra Energy from $37.00 to $35.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, Scotiabank lowered their price target on shares of Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Coterra Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.50.

Coterra Energy Trading Up 1.1%

CTRA traded up $0.26 on Tuesday, reaching $24.76. 2,074,756 shares of the company traded hands, compared to its average volume of 6,367,431. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The firm has a fifty day simple moving average of $26.08 and a two-hundred day simple moving average of $26.43. The company has a market cap of $18.90 billion, a P/E ratio of 14.92, a price-to-earnings-growth ratio of 0.59 and a beta of 0.33. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.09. The firm 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 quarterly revenue was up 32.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS. As a group, equities research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm 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 dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Thursday, May 15th. Coterra Energy's payout ratio is 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.