Mercer Global Advisors Inc. ADV Purchases 1,061 Shares of Coterra Energy Inc. (NYSE:CTRA)

Mercer Global Advisors Inc. ADV boosted its position in Coterra Energy Inc. (NYSE:CTRA) by 3.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 33,489 shares of the company’s stock after buying an additional 1,061 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Coterra Energy were worth $855,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its holdings in Coterra Energy by 5,744.3% in the fourth quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company’s stock valued at $93,520,000 after purchasing an additional 3,599,042 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Coterra Energy by 117.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company’s stock valued at $123,036,000 after acquiring an additional 2,600,801 shares during the period. Raymond James Financial Inc. bought a new position in Coterra Energy during the 4th quarter worth approximately $61,461,000. Schroder Investment Management Group grew its holdings in Coterra Energy by 18.2% during the fourth quarter. Schroder Investment Management Group now owns 11,776,525 shares of the company’s stock valued at $300,537,000 after purchasing an additional 1,809,615 shares during the period. Finally, Truist Financial Corp increased its stake in Coterra Energy by 668.0% in the fourth quarter. Truist Financial Corp now owns 1,616,660 shares of the company’s stock valued at $41,289,000 after purchasing an additional 1,406,170 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Morgan Stanley set a $28.00 price target on Coterra Energy in a research report on Tuesday, April 15th. Wells Fargo & Company boosted their price objective on Coterra Energy from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. JPMorgan Chase & Co. dropped their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Scotiabank reduced their price target on shares of Coterra Energy from $38.00 to $33.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.75.

Coterra Energy Price Performance

Shares of CTRA opened at $23.40 on Friday. The company has a market cap of $17.88 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.59 and a beta of 0.33. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $26.30 and its 200 day simple moving average is $26.37. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95.

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

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Thursday, May 15th. Coterra Energy’s payout ratio is 51.16%.

Insiders Place Their Bets

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

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.