Desjardins Global Asset Management Inc. Buys 1,525 Shares of Coterra Energy Inc. (NYSE:CTRA)

Desjardins Global Asset Management Inc. raised its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 18.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,646 shares of the company’s stock after acquiring an additional 1,525 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Coterra Energy were worth $246,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CTRA. Beacon Investment Advisors LLC boosted its holdings in shares of Coterra Energy by 0.7% in the 3rd quarter. Beacon Investment Advisors LLC now owns 62,447 shares of the company’s stock worth $1,689,000 after buying an additional 422 shares during the last quarter. SouthState Corp boosted its holdings in shares of Coterra Energy by 75.4% in the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after buying an additional 454 shares during the last quarter. Echo Street Capital Management LLC boosted its holdings in shares of Coterra Energy by 5.5% in the 4th quarter. Echo Street Capital Management LLC now owns 9,084 shares of the company’s stock worth $223,000 after buying an additional 477 shares during the last quarter. Hoxton Planning & Management LLC boosted its holdings in shares of Coterra Energy by 3.9% in the 1st quarter. Hoxton Planning & Management LLC now owns 13,238 shares of the company’s stock worth $325,000 after buying an additional 500 shares during the last quarter. Finally, Trust Co. of Vermont boosted its holdings in shares of Coterra Energy by 1.9% in the 3rd quarter. Trust Co. of Vermont now owns 26,314 shares of the company’s stock worth $712,000 after buying an additional 503 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CTRA. Susquehanna raised shares of Coterra Energy from a “neutral” rating to a “positive” rating and cut their price target for the stock from $31.00 to $30.00 in a report on Friday, January 26th. Morgan Stanley boosted their price target on shares of Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday. Stifel Nicolaus lowered their price objective on Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Barclays started coverage on Coterra Energy in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price objective on the stock. Finally, UBS Group boosted their price objective on Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Two investment 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, the company has a consensus rating of “Moderate Buy” and an average price target of $32.20.

Coterra Energy Stock Performance

Shares of CTRA opened at $27.22 on Friday. The business’s 50-day moving average price is $26.59 and its 200-day moving average price is $26.37. Coterra Energy Inc. has a twelve month low of $22.91 and a twelve month high of $29.89. The stock has a market cap of $20.46 billion, a PE ratio of 12.72 and a beta of 0.21. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12.

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 the consensus estimate of $0.55 by ($0.06). Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.54 billion. On average, equities analysts forecast that Coterra Energy Inc. will post 1.93 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 $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.09%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 13th. Coterra Energy’s dividend payout ratio is 39.25%.

Insider Buying and Selling

In related news, VP Michael D. Deshazer sold 14,000 shares of the company’s 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 transaction, the vice president now directly owns 93,988 shares in the company, valued at $2,449,327.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the company’s 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Michael D. Deshazer sold 14,000 shares of the company’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 of the company’s stock, valued at approximately $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is owned by company 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.