New York Life Investment Management LLC Sells 5,352 Shares of Coterra Energy Inc. (NYSE:CTRA)

New York Life Investment Management LLC lessened its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 4.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,525 shares of the company’s stock after selling 5,352 shares during the quarter. New York Life Investment Management LLC’s holdings in Coterra Energy were worth $2,744,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Schroder Investment Management Group boosted its holdings in Coterra Energy by 21.7% in the third quarter. Schroder Investment Management Group now owns 7,187,516 shares of the company’s stock worth $194,422,000 after acquiring an additional 1,281,094 shares in the last quarter. AQR Capital Management LLC grew its position in Coterra Energy by 60.4% in the 3rd 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 during the period. Envestnet Asset Management Inc. grew its position in Coterra Energy by 47.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 2,247,785 shares of the company’s stock valued at $60,803,000 after purchasing an additional 720,464 shares during the period. Victory Capital Management Inc. increased its stake in Coterra Energy by 3.5% during the 3rd quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock valued at $431,329,000 after purchasing an additional 544,768 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of 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 valued at $39,347,000 after buying an additional 541,518 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Up 3.8 %

CTRA opened at $28.19 on Monday. Coterra Energy Inc. has a twelve month low of $22.91 and a twelve month high of $29.89. The company’s 50-day moving average price is $27.30 and its two-hundred day moving average price is $26.36. The stock has a market cap of $21.19 billion, a price-to-earnings ratio of 16.29 and a beta of 0.22. 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 posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a return on equity of 10.80% and a net margin of 23.34%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. As a group, equities analysts expect that Coterra Energy Inc. will post 1.82 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.21 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.84 annualized dividend and a dividend yield of 2.98%. Coterra Energy’s payout ratio is 48.55%.

Insider Buying and Selling

In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the sale, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the sale, the vice president now owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CTRA has been the subject of several recent research reports. Truist Financial decreased their target price on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Stifel Nicolaus lowered their price objective on Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Scotiabank lifted their target price on Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Mizuho upped their price target on Coterra Energy from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Friday. Finally, UBS Group raised 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 assigned a buy rating to the company’s stock. According to MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $32.67.

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.