Significant Wealth Partners LLC Takes Position in Coterra Energy Inc. (NYSE:CTRA)

Significant Wealth Partners LLC purchased a new position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 62,872 shares of the company's stock, valued at approximately $1,604,000. Coterra Energy makes up approximately 1.2% of Significant Wealth Partners LLC's holdings, making the stock its 25th biggest holding.

A number of other hedge funds have also made changes to their positions in the stock. SouthState Corp boosted its holdings in Coterra Energy by 75.4% in the third quarter. SouthState Corp now owns 1,056 shares of the company's stock worth $29,000 after purchasing an additional 454 shares during the period. Tennessee Valley Asset Management Partners acquired a new position in Coterra Energy in the fourth quarter worth $33,000. VisionPoint Advisory Group LLC boosted its holdings in Coterra Energy by 133.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company's stock worth $35,000 after purchasing an additional 740 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in Coterra Energy in the fourth quarter worth $33,000. Finally, Stone House Investment Management LLC boosted its holdings in Coterra Energy by 32.4% in the fourth quarter. Stone House Investment Management LLC now owns 1,791 shares of the company's stock worth $46,000 after purchasing an additional 438 shares during the period. Institutional investors and hedge funds own 87.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CTRA shares. Stifel Nicolaus cut their target price on Coterra Energy from $33.00 to $31.00 and set a "buy" rating on the stock in a research note on Friday, March 22nd. Morgan Stanley raised their target price on Coterra Energy from $26.00 to $29.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 17th. Barclays started coverage on Coterra Energy in a research note on Wednesday, April 10th. They issued an "overweight" rating and a $36.00 target price on the stock. Scotiabank raised their target price on Coterra Energy from $31.00 to $35.00 and gave the company a "sector outperform" rating in a research note on Thursday, April 11th. Finally, Mizuho restated a "buy" rating and set a $34.00 price objective on shares of Coterra Energy in a research note on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $32.47.

Coterra Energy Trading Up 0.7 %

CTRA traded up $0.20 during trading on Monday, reaching $27.95. The company had a trading volume of 5,310,048 shares, compared to its average volume of 6,894,615. The firm's 50-day simple moving average is $26.71 and its 200 day simple moving average is $26.39. The company has a market cap of $21.01 billion, a price-to-earnings ratio of 13.06 and a beta of 0.21. Coterra Energy Inc. has a 12-month low of $22.91 and a 12-month high of $29.89. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.54 billion. Equities research analysts anticipate that Coterra Energy Inc. will post 1.93 earnings per share for the current year.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.01%. The ex-dividend date was Wednesday, March 13th. This is a boost from Coterra Energy's previous quarterly dividend of $0.20. Coterra Energy's payout ratio is 39.25%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the transaction, the chief accounting officer now owns 176,758 shares of the company's stock, valued at approximately $4,783,071.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at approximately $4,783,071.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following the sale, the vice president now owns 93,988 shares of the company's stock, valued at $2,449,327.28. The disclosure for this sale can be found here. Company insiders own 1.70% of the company's stock.

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.