Point72 Asia Singapore Pte. Ltd. lifted its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 2,241.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,430 shares of the company's stock after buying an additional 80,824 shares during the period. Point72 Asia Singapore Pte. Ltd.'s holdings in Coterra Energy were worth $2,156,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of CTRA. Wellington Management Group LLP increased its stake in shares of Coterra Energy by 1.9% in the fourth quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company's stock worth $1,852,385,000 after acquiring an additional 1,318,754 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Coterra Energy by 5.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company's stock worth $599,356,000 after purchasing an additional 1,310,965 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Coterra Energy by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company's stock valued at $486,528,000 after purchasing an additional 96,059 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Coterra Energy by 5.0% in the 4th quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company's stock valued at $454,834,000 after purchasing an additional 845,609 shares during the last quarter. Finally, Invesco Ltd. increased its position in Coterra Energy by 9.0% during the fourth quarter. Invesco Ltd. now owns 12,232,484 shares of the company's stock worth $312,418,000 after buying an additional 1,011,166 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.
Insiders Place Their Bets
In related news, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction that occurred 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the transaction, the senior vice president now owns 106,114 shares of the company's stock, valued at approximately $3,086,856.26. The trade was a 19.52% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on CTRA shares. Williams Trading set a $37.00 price objective on Coterra Energy in a report on Wednesday, March 5th. Morgan Stanley set a $28.00 price target on Coterra Energy in a research report on Tuesday, April 15th. Susquehanna reduced their price objective on Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company raised their price objective on shares of Coterra Energy from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Finally, Bank of America cut their target price on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $33.50.
Read Our Latest Report on Coterra Energy
Coterra Energy Stock Performance
NYSE CTRA opened at $24.88 on Thursday. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock has a market cap of $18.99 billion, a P/E ratio of 14.99, a PEG ratio of 0.59 and a beta of 0.33. The company's 50-day simple moving average is $26.22 and its 200 day simple moving average is $26.37.
Coterra Energy (NYSE:CTRA - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.09. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company had revenue of $924.00 million for the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the previous year, the business earned $0.51 earnings per share. The company's quarterly revenue was up 32.9% on a year-over-year basis. As a group, research analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.
Coterra Energy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Thursday, May 15th. Coterra Energy's dividend payout ratio (DPR) is 51.16%.
Coterra Energy Profile
(
Free Report)
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.
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