Systematic Financial Management LP Grows Position in Coterra Energy Inc. (NYSE:CTRA)

Systematic Financial Management LP raised its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 16.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,185 shares of the company’s stock after buying an additional 18,935 shares during the quarter. Systematic Financial Management LP’s holdings in Coterra Energy were worth $3,427,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Coterra Energy by 1.9% in the 4th quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company’s stock worth $1,852,385,000 after purchasing an additional 1,318,754 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Coterra Energy by 5.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock worth $599,356,000 after purchasing an additional 1,310,965 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Coterra Energy by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company’s stock worth $486,528,000 after purchasing an additional 96,059 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Coterra Energy by 5.0% in the 4th quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company’s stock worth $454,834,000 after purchasing an additional 845,609 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Coterra Energy by 9.0% in the 4th quarter. Invesco Ltd. now owns 12,232,484 shares of the company’s stock worth $312,418,000 after purchasing an additional 1,011,166 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Insider Transactions at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the transaction, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. The trade was a 21.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kevin William Smith sold 25,733 shares of the business’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 completion of the transaction, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. The trade was a 19.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CTRA shares. Bank of America dropped their target price on Coterra Energy from $34.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, April 29th. Morgan Stanley set a $28.00 target price on Coterra Energy in a report on Tuesday, April 15th. Susquehanna dropped their target price on Coterra Energy from $34.00 to $32.00 and set a “positive” rating for the company in a report on Tuesday, April 22nd. Williams Trading set a $37.00 price objective on Coterra Energy in a report on Wednesday, March 5th. Finally, Johnson Rice upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and boosted their price objective for the company from $34.00 to $37.00 in a report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.50.

Coterra Energy Price Performance

Shares of CTRA stock opened at $24.80 on Friday. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The stock has a market capitalization of $18.93 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 0.59 and a beta of 0.33. The stock has a fifty day simple moving average of $26.13 and a two-hundred day simple moving average of $26.40. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.09. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $924.00 million during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the prior year, the business earned $0.51 EPS. The business’s revenue for the quarter was up 32.9% compared to the same quarter last year. On average, analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Thursday, May 15th. Coterra Energy’s payout ratio is 51.16%.

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.