Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Cwm LLC

Cwm LLC reduced its holdings in Coterra Energy Inc. (NYSE:CTRA) by 5.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 137,678 shares of the company’s stock after selling 7,946 shares during the period. Cwm LLC’s holdings in Coterra Energy were worth $3,514,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in shares of Coterra Energy by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,080,590 shares of the company’s stock worth $434,980,000 after buying an additional 235,636 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Coterra Energy by 3.5% in the 3rd quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock worth $431,329,000 after buying an additional 544,768 shares during the last quarter. Invesco Ltd. lifted its position in Coterra Energy by 1.5% in the 3rd quarter. Invesco Ltd. now owns 10,723,660 shares of the company’s stock valued at $290,075,000 after purchasing an additional 161,776 shares during the last quarter. Northern Trust Corp lifted its position in Coterra Energy by 2.3% in the 3rd quarter. Northern Trust Corp now owns 9,084,114 shares of the company’s stock valued at $245,725,000 after purchasing an additional 201,520 shares during the last quarter. Finally, Morgan Stanley lifted its position in Coterra Energy by 5.9% in the 3rd quarter. Morgan Stanley now owns 8,421,481 shares of the company’s stock valued at $227,801,000 after purchasing an additional 466,511 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Stock Performance

Shares of CTRA opened at $28.45 on Thursday. The firm’s 50 day moving average is $26.95 and its 200-day moving average is $26.42. The stock has a market capitalization of $21.39 billion, a P/E ratio of 13.29 and a beta of 0.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18. Coterra Energy Inc. has a 12-month low of $22.91 and a 12-month high of $29.89.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.06). The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. Equities research analysts anticipate that Coterra Energy Inc. will post 1.88 EPS for the current fiscal year.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.21 per share. 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. This represents a $0.84 dividend on an annualized basis and a yield of 2.95%. Coterra Energy’s payout ratio is presently 39.25%.

Insider Activity at Coterra Energy

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CTRA shares. Piper Sandler lifted their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Scotiabank lifted 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. Bank of America upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Friday, January 5th. Stifel Nicolaus cut 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. Finally, Raymond James boosted their price target on shares of Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.47.

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.