Keel Point LLC Makes New Investment in Coterra Energy Inc. (NYSE:CTRA)

Keel Point LLC purchased a new position in Coterra Energy Inc. (NYSE:CTRA) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 7,975 shares of the company’s stock, valued at approximately $204,000.

Several other institutional investors and hedge funds have also made changes to their positions in CTRA. ICA Group Wealth Management LLC purchased a new stake in Coterra Energy in the fourth quarter valued at approximately $25,000. SouthState Corp boosted its holdings in shares of Coterra Energy by 75.4% in the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after acquiring an additional 454 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new position in shares of Coterra Energy during the fourth quarter worth $33,000. VisionPoint Advisory Group LLC lifted its position in Coterra Energy by 133.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock valued at $35,000 after purchasing an additional 740 shares during the period. Finally, Achmea Investment Management B.V. acquired a new position in Coterra Energy during the first quarter valued at $41,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CTRA shares. Scotiabank boosted their price objective on Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Truist Financial lowered their price objective on Coterra Energy from $30.00 to $27.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Piper Sandler lifted their target price on shares of Coterra Energy from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Stephens reissued an “overweight” rating and set a $39.00 price target on shares of Coterra Energy in a report on Tuesday, January 23rd. Finally, UBS Group lifted their price objective 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 analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.20.

Insider Buying and Selling

In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the company’s 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 transaction, the vice president now owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Michael D. Deshazer sold 14,000 shares of the business’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 sale, the vice president now directly owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction that occurred on Wednesday, March 20th. The shares were 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 owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Coterra Energy Stock Up 0.1 %

NYSE CTRA opened at $27.22 on Thursday. The business’s fifty day simple moving average is $26.59 and its 200-day simple moving average is $26.37. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12. The firm has a market cap of $20.46 billion, a PE ratio of 12.72 and a beta of 0.21. Coterra Energy Inc. has a 52 week low of $22.91 and a 52 week high of $29.89.

Coterra Energy (NYSE:CTRA) last posted its 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). Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. As a group, equities analysts anticipate that Coterra Energy Inc. will post 1.92 earnings per share for the current year.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.21 per share. The ex-dividend date was Wednesday, March 13th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.09%. Coterra Energy’s dividend payout ratio is currently 39.25%.

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.