Coterra Energy Inc. (NYSE:CTRA) is SIR Capital Management L.P.'s 10th Largest Position

SIR Capital Management L.P. lifted its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 27.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,012,344 shares of the company's stock after buying an additional 218,544 shares during the period. Coterra Energy comprises about 2.7% of SIR Capital Management L.P.'s holdings, making the stock its 10th largest position. SIR Capital Management L.P. owned approximately 0.14% of Coterra Energy worth $25,855,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. AdvisorNet Financial Inc raised its stake in shares of Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company's stock valued at $29,000 after buying an additional 744 shares during the period. MCF Advisors LLC raised its stake in shares of Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company's stock valued at $32,000 after buying an additional 869 shares during the period. R Squared Ltd bought a new stake in shares of Coterra Energy in the fourth quarter valued at $32,000. Plato Investment Management Ltd bought a new stake in shares of Coterra Energy in the fourth quarter valued at $43,000. Finally, Deseret Mutual Benefit Administrators raised its stake in shares of Coterra Energy by 33.2% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company's stock valued at $44,000 after buying an additional 429 shares during the period. Hedge funds and other institutional investors own 87.92% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CTRA shares. JPMorgan Chase & Co. dropped their price objective on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Susquehanna dropped their price objective on Coterra Energy from $34.00 to $32.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Johnson Rice raised Coterra Energy from a "hold" rating to an "accumulate" rating and increased their price objective for the stock from $34.00 to $37.00 in a report on Wednesday, March 12th. Williams Trading set a $37.00 price objective on Coterra Energy in a report on Wednesday, March 5th. Finally, Piper Sandler dropped their price objective on Coterra Energy from $37.00 to $36.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Coterra Energy currently has an average rating of "Moderate Buy" and an average target price of $33.50.

Coterra Energy Trading Down 1.2%

CTRA traded down $0.30 on Monday, hitting $24.50. 5,107,118 shares of the company were exchanged, compared to its average volume of 6,383,370. The stock has a market capitalization of $18.70 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 0.59 and a beta of 0.33. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month 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 debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

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 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 analyst estimates of $1.92 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business's quarterly revenue was up 32.9% compared to the same quarter last year. During the same period last year, the company earned $0.51 EPS. Sell-side analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Thursday, May 15th. Coterra Energy's payout ratio is presently 51.16%.

Insider Activity

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction on Wednesday, March 19th. The stock was 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 owns 106,114 shares in the company, valued at approximately $3,086,856.26. The trade was a 19.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction 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 sale, the senior vice president now directly owns 126,770 shares of the company's stock, valued at approximately $3,374,617.40. The trade was a 21.82% decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

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.