MeadowBrook Investment Advisors LLC Takes $234,000 Position in Coterra Energy Inc. (NYSE:CTRA)

MeadowBrook Investment Advisors LLC bought a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,170 shares of the company’s stock, valued at approximately $234,000.

Several other hedge funds have also modified their holdings of CTRA. Schroder Investment Management Group lifted its stake in Coterra Energy by 21.7% in the 3rd quarter. Schroder Investment Management Group now owns 7,187,516 shares of the company’s stock worth $194,422,000 after acquiring an additional 1,281,094 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Coterra Energy by 60.4% during the 3rd quarter. AQR Capital Management LLC now owns 1,936,277 shares of the company’s stock worth $52,376,000 after purchasing an additional 729,306 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Coterra Energy by 47.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,247,785 shares of the company’s stock worth $60,803,000 after purchasing an additional 720,464 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Coterra Energy by 3.5% during the 3rd quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock worth $431,329,000 after purchasing an additional 544,768 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Coterra Energy by 59.3% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,454,603 shares of the company’s stock worth $39,347,000 after purchasing an additional 541,518 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction 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 transaction, the vice president now directly owns 93,988 shares in the company, valued at approximately $2,449,327.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Todd M. Roemer sold 55,000 shares of the business’s stock in a transaction dated 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 completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael D. Deshazer sold 14,000 shares of the business’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 completion of the sale, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CTRA has been the topic of a number of analyst reports. Piper Sandler increased their price objective on Coterra Energy from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Scotiabank lifted their target price on Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Susquehanna lifted their target price on Coterra Energy from $30.00 to $32.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Barclays began coverage on Coterra Energy in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 target price for the company. Finally, UBS Group lifted their price objective on Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and an average price target of $32.67.

Coterra Energy Stock Performance

NYSE CTRA traded up $0.15 during trading on Monday, reaching $28.34. 6,764,166 shares of the company’s stock were exchanged, compared to its average volume of 6,791,106. The business has a 50 day moving average price of $27.30 and a 200-day moving average price of $26.36. The stock has a market capitalization of $21.31 billion, a P/E ratio of 16.29 and a beta of 0.22. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.89 and a quick ratio of 1.18. Coterra Energy Inc. has a fifty-two week low of $22.91 and a fifty-two week high of $29.89.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.54 billion. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. Sell-side analysts forecast that Coterra Energy Inc. will post 1.82 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Wednesday, May 15th. Coterra Energy’s dividend payout ratio is currently 48.55%.

About Coterra Energy

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.