Voleon Capital Management LP Purchases New Position in Coterra Energy Inc. (NYSE:CTRA)

Voleon Capital Management LP acquired a new position in Coterra Energy Inc. (NYSE:CTRA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 42,217 shares of the company's stock, valued at approximately $1,078,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barclays PLC grew its position in Coterra Energy by 3.1% in the 3rd quarter. Barclays PLC now owns 2,147,263 shares of the company's stock worth $51,425,000 after purchasing an additional 64,753 shares during the period. Pine Valley Investments Ltd Liability Co boosted its stake in shares of Coterra Energy by 37.5% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 122,725 shares of the company's stock worth $2,939,000 after acquiring an additional 33,452 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of Coterra Energy during the 3rd quarter valued at $1,749,000. Wilmington Savings Fund Society FSB bought a new position in Coterra Energy in the 3rd quarter worth $621,000. Finally, Blankinship & Foster LLC purchased a new position in Coterra Energy during the third quarter valued at $1,420,000. 87.92% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Kevin William Smith sold 25,733 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the transaction, the senior vice president now directly owns 106,114 shares of the company's stock, valued at $3,086,856.26. This represents a 19.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now directly owns 126,770 shares of the company's stock, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company's stock.

Coterra Energy Trading Down 8.9 %

CTRA traded down $2.25 during trading on Tuesday, hitting $23.03. 12,929,535 shares of the stock were exchanged, compared to its average volume of 6,234,357. 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 Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The firm has a 50 day simple moving average of $26.58 and a 200 day simple moving average of $26.41. The firm has a market cap of $17.59 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 0.59 and a beta of 0.33.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.09. The company 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 firm'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 earnings per share. As a group, equities analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.82%. Coterra Energy's dividend payout ratio (DPR) is 58.28%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CTRA shares. Raymond James decreased their price objective on Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 12th. UBS Group dropped their price objective on Coterra Energy from $33.00 to $32.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. JPMorgan Chase & Co. cut their target price on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company boosted their price target 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, Jefferies Financial Group raised their price objective on Coterra Energy from $26.00 to $28.00 and gave the company a "hold" rating in a research report on Tuesday, February 4th. Three equities 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. According to MarketBeat, Coterra Energy has a consensus rating of "Moderate Buy" and a consensus price target of $33.85.

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.