EP Wealth Advisors LLC Reduces Position in Coterra Energy Inc. (NYSE:CTRA)

EP Wealth Advisors LLC lessened its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 6.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,674 shares of the company’s stock after selling 1,839 shares during the period. EP Wealth Advisors LLC’s holdings in Coterra Energy were worth $630,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Corigliano Investment Advisers LLC purchased a new stake in Coterra Energy during the 4th quarter worth approximately $19,829,000. Cary Street Partners Financial LLC purchased a new stake in Coterra Energy during the 4th quarter worth approximately $115,000. Bayesian Capital Management LP purchased a new stake in Coterra Energy during the 4th quarter worth approximately $3,790,000. Black Maple Capital Management LP grew its position in Coterra Energy by 307.7% during the 4th quarter. Black Maple Capital Management LP now owns 53,000 shares of the company’s stock worth $1,354,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Coterra Energy by 19.3% during the 4th quarter. Ameriprise Financial Inc. now owns 1,340,525 shares of the company’s stock worth $34,237,000 after purchasing an additional 216,865 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

NYSE:CTRA opened at $23.40 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company has a fifty day moving average of $26.30 and a two-hundred day moving average of $26.39. The stock has a market capitalization of $17.88 billion, a PE ratio of 14.10, a P/E/G ratio of 0.59 and a beta of 0.33. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.09. The company had revenue of $924.00 million during the quarter, compared to analysts’ expectations of $1.92 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 earnings per share. As a group, research analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Thursday, May 15th. Coterra Energy’s dividend payout ratio is presently 51.16%.

Insiders Place Their Bets

In related news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the sale, the senior vice president now owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. This represents a 21.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Kevin William Smith sold 25,733 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the sale, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at $3,086,856.26. This represents a 19.52% decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on CTRA. Bank of America decreased their price objective on shares of Coterra Energy from $34.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, April 29th. Piper Sandler lifted their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Williams Trading set a $37.00 price objective on shares of Coterra Energy in a research note on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, Jefferies Financial Group lifted their price objective on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, February 4th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.75.

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.