Cornerstone Investment Partners LLC Sells 525 Shares of Coterra Energy Inc. (NYSE:CTRA)

Cornerstone Investment Partners LLC decreased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,053 shares of the company’s stock after selling 525 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in Coterra Energy were worth $1,762,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CTRA. Vanguard Group Inc. bought a new stake in Coterra Energy during the 1st quarter valued at approximately $2,472,575,000. State Street Corp bought a new stake in shares of Coterra Energy in the 1st quarter worth approximately $1,493,855,000. Northern Trust Corp bought a new stake in shares of Coterra Energy in the 1st quarter worth approximately $300,998,000. Invesco Ltd. bought a new stake in shares of Coterra Energy in the 1st quarter worth approximately $169,781,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Coterra Energy in the 1st quarter worth approximately $151,999,000. Institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

CTRA has been the subject of a number of recent research reports. Piper Sandler increased their target price on Coterra Energy from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Truist Financial dropped their target price on Coterra Energy from $30.00 to $27.00 and set a “hold” rating for the company in a report on Friday, April 5th. Stifel Nicolaus dropped their target price on Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Morgan Stanley increased their target price on Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Mizuho reissued a “buy” rating and issued a $34.00 target price on shares of Coterra Energy in a report on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.20.

Insider Transactions at Coterra Energy

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 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the sale, the vice president now directly owns 93,988 shares in the company, valued at $2,449,327.28. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Todd M. Roemer sold 55,000 shares of the 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 sale, the chief accounting officer now directly owns 176,758 shares in the company, 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 Trading Up 1.4 %

Shares of NYSE:CTRA traded up $0.39 during midday trading on Friday, hitting $27.61. The company had a trading volume of 2,477,987 shares, compared to its average volume of 6,851,602. Coterra Energy Inc. has a 12 month low of $22.91 and a 12 month high of $29.89. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12. The stock has a market cap of $20.76 billion, a price-to-earnings ratio of 12.72 and a beta of 0.21. The firm has a fifty day simple moving average of $26.59 and a 200 day simple moving average of $26.37.

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). The business had revenue of $1.60 billion for 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%. On average, analysts predict that Coterra Energy Inc. will post 1.93 EPS for the current year.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s payout ratio is 39.25%.

Coterra Energy Company 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.