GAMMA Investing LLC Acquires New Holdings in Coterra Energy Inc. (NYSE:CTRA)

GAMMA Investing LLC purchased a new position in shares of Coterra Energy Inc. (NYSE:CTRA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,113 shares of the company’s stock, valued at approximately $152,000.

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

Analyst Ratings Changes

Several research firms have weighed in on CTRA. 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. Mizuho restated a “buy” rating and issued a $34.00 target price on shares of Coterra Energy in a report on Wednesday, April 3rd. JPMorgan Chase & Co. upped their price target on Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Piper Sandler boosted their price objective on Coterra Energy from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, Raymond James boosted their price objective on Coterra Energy from $32.00 to $34.00 and gave the company 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’s stock. Based on data from MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and a consensus target price of $32.47.

Coterra Energy Stock Performance

NYSE:CTRA opened at $28.29 on Friday. The stock has a market cap of $21.27 billion, a P/E ratio of 13.22 and a beta of 0.21. The stock has a 50 day simple moving average of $27.10 and a 200 day simple moving average of $26.43. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12. Coterra Energy Inc. has a 1-year low of $22.91 and a 1-year high of $29.89.

Coterra Energy (NYSE:CTRA) last released 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). The firm 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 12.97% and a net margin of 27.48%. Research analysts anticipate that Coterra Energy Inc. will post 1.82 earnings per share for the current year.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.97%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s payout ratio is 39.25%.

Insider Transactions at Coterra Energy

In other news, 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 transaction, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the company’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 transaction, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction dated 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 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 insiders.

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.