FFT Wealth Management LLC Purchases 729 Shares of Coterra Energy Inc. (NYSE:CTRA)

FFT Wealth Management LLC lifted its position in Coterra Energy Inc. (NYSE:CTRA) by 8.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,036 shares of the company’s stock after buying an additional 729 shares during the period. FFT Wealth Management LLC’s holdings in Coterra Energy were worth $231,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Significant Wealth Partners LLC bought a new position in Coterra Energy during the fourth quarter valued at approximately $1,604,000. Van ECK Associates Corp raised its position in Coterra Energy by 2.1% in the third quarter. Van ECK Associates Corp now owns 113,399 shares of the company’s stock worth $3,068,000 after acquiring an additional 2,376 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Coterra Energy in the third quarter worth approximately $1,461,000. Nordea Investment Management AB raised its position in Coterra Energy by 3.9% in the third quarter. Nordea Investment Management AB now owns 803,979 shares of the company’s stock worth $21,844,000 after acquiring an additional 30,237 shares during the period. Finally, Pinnacle Associates Ltd. raised its position in Coterra Energy by 5.3% in the fourth quarter. Pinnacle Associates Ltd. now owns 13,443 shares of the company’s stock worth $343,000 after acquiring an additional 679 shares during the period. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Up 0.6 %

Shares of NYSE:CTRA traded up $0.16 during trading hours on Thursday, hitting $27.07. The company’s stock had a trading volume of 744,359 shares, compared to its average volume of 6,668,565. Coterra Energy Inc. has a 52 week low of $22.91 and a 52 week high of $29.89. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18. The company has a market capitalization of $20.35 billion, a price-to-earnings ratio of 12.57 and a beta of 0.22. The firm’s fifty day moving average price is $27.24 and its 200 day moving average price is $26.41.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.54 billion. As a group, research analysts expect that Coterra Energy Inc. will post 1.82 EPS for the current year.

Coterra Energy Increases Dividend

The business also recently announced 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 annualized dividend and a yield of 3.10%. The ex-dividend date was Wednesday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s payout ratio is currently 39.25%.

Analyst Ratings Changes

Several research analysts have weighed in on CTRA shares. Truist Financial decreased their price target on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Stifel Nicolaus decreased their price objective on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Scotiabank raised their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Morgan Stanley raised their price objective on shares of Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Finally, UBS Group raised their price objective on shares of Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.47.

Insiders Place Their Bets

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the business’s 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 sale, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were 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 of the company’s stock, valued at approximately $4,783,071.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were 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 directly owns 93,988 shares in the company, valued at $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

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.