Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,815,170 shares of the company's stock after selling 130,431 shares during the period. Victory Capital Management Inc. owned 2.10% of Coterra Energy worth $403,603,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CTRA. Asset Management One Co. Ltd. increased its stake in shares of Coterra Energy by 1.7% during the third quarter. Asset Management One Co. Ltd. now owns 342,561 shares of the company's stock valued at $9,266,000 after buying an additional 5,626 shares during the period. Brookstone Capital Management increased its position in Coterra Energy by 35.5% during the 3rd quarter. Brookstone Capital Management now owns 69,231 shares of the company's stock valued at $2,049,000 after purchasing an additional 18,151 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Coterra Energy by 18.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 218,119 shares of the company's stock valued at $5,900,000 after purchasing an additional 34,479 shares in the last quarter. Accurate Wealth Management LLC increased its position in shares of Coterra Energy by 35.0% during the third quarter. Accurate Wealth Management LLC now owns 12,083 shares of the company's stock valued at $355,000 after buying an additional 3,131 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in Coterra Energy by 688.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 266,410 shares of the company's stock worth $7,206,000 after buying an additional 232,626 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CTRA. Bank of America raised Coterra Energy from a "neutral" rating to a "buy" rating and set a $31.00 target price for the company in a research report on Friday, January 5th. Piper Sandler boosted their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Friday, April 19th. JPMorgan Chase & Co. lifted their price target on shares of Coterra Energy from $29.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, April 4th. Mizuho restated a "buy" rating and issued a $34.00 price objective on shares of Coterra Energy in a report on Wednesday, April 3rd. Finally, UBS Group lifted their target price on shares of Coterra Energy from $31.00 to $32.00 and gave the company a "buy" rating in a report on Friday, March 1st. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $32.47.

Coterra Energy Stock Performance

Shares of CTRA traded down $0.45 during trading hours on Wednesday, hitting $26.91. The stock had a trading volume of 5,864,403 shares, compared to its average volume of 6,742,584. The firm has a market capitalization of $20.23 billion, a PE ratio of 12.57 and a beta of 0.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18. The stock has a fifty day moving average price of $27.22 and a 200 day moving average price of $26.40. Coterra Energy Inc. has a 12 month low of $22.91 and a 12 month high of $29.89.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.06). The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. Analysts anticipate that Coterra Energy Inc. will post 1.82 EPS for the current year.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.84 annualized dividend and a dividend yield of 3.12%. This is an increase from Coterra Energy's previous quarterly dividend of $0.20. Coterra Energy's dividend payout ratio (DPR) is 39.25%.

Insider Activity

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

Coterra Energy Profile

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.