Mackenzie Financial Corp Has $3.29 Million Position in Coterra Energy Inc. (NYSE:CTRA)

Mackenzie Financial Corp increased its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 71.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,031 shares of the company’s stock after acquiring an additional 53,761 shares during the period. Mackenzie Financial Corp’s holdings in Coterra Energy were worth $3,293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CTRA. Beacon Investment Advisors LLC lifted its holdings in shares of Coterra Energy by 0.7% in the third quarter. Beacon Investment Advisors LLC now owns 62,447 shares of the company’s stock worth $1,689,000 after acquiring an additional 422 shares during the last quarter. SouthState Corp lifted its stake in Coterra Energy by 75.4% in the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after purchasing an additional 454 shares during the last quarter. Trust Co. of Vermont boosted its position in Coterra Energy by 1.9% in the third quarter. Trust Co. of Vermont now owns 26,314 shares of the company’s stock valued at $712,000 after buying an additional 503 shares in the last quarter. Miller Howard Investments Inc. NY grew its stake in shares of Coterra Energy by 0.9% during the third quarter. Miller Howard Investments Inc. NY now owns 58,913 shares of the company’s stock worth $1,594,000 after buying an additional 523 shares during the last quarter. Finally, Cascade Investment Advisors Inc. increased its holdings in shares of Coterra Energy by 1.1% during the fourth quarter. Cascade Investment Advisors Inc. now owns 51,140 shares of the company’s stock worth $1,305,000 after buying an additional 535 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

Coterra Energy Stock Performance

CTRA stock opened at $27.95 on Tuesday. The firm has a market cap of $21.01 billion, a PE ratio of 13.06 and a beta of 0.21. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average price of $26.78 and a 200-day moving average price of $26.40. Coterra Energy Inc. has a 1-year low of $22.91 and a 1-year high of $29.89.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. As a group, equities research analysts expect that Coterra Energy Inc. will post 1.93 earnings per share for the current year.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 3.01%. Coterra Energy’s dividend payout ratio is currently 39.25%.

Insider Buying and Selling at Coterra Energy

In other news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction dated 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 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 the SEC website. In other news, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction 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 owns 93,988 shares in the company, valued at approximately $2,449,327.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction dated 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 completion of the sale, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CTRA. UBS Group boosted their price objective on Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Bank of America raised Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Friday, January 5th. Barclays assumed coverage on shares of Coterra Energy in a research report on Wednesday, April 10th. They set an “overweight” rating and a $36.00 target price on the stock. Stephens restated an “overweight” rating and issued a $39.00 price target on shares of Coterra Energy in a research report on Tuesday, January 23rd. Finally, Scotiabank boosted their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently 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.