Swiss National Bank Has $60.24 Million Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Swiss National Bank cut its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,360,420 shares of the company’s stock after selling 75,900 shares during the period. Swiss National Bank owned 0.31% of Coterra Energy worth $60,238,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Schroder Investment Management Group grew its holdings in 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 purchasing an additional 1,281,094 shares during the period. AQR Capital Management LLC boosted its stake in shares of Coterra Energy by 60.4% during the 3rd quarter. AQR Capital Management LLC now owns 1,936,277 shares of the company’s stock worth $52,376,000 after acquiring an additional 729,306 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Coterra Energy by 47.2% during the 3rd 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 during the last quarter. Victory Capital Management Inc. raised its stake in Coterra Energy by 3.5% in the 3rd quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock valued at $431,329,000 after acquiring an additional 544,768 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its holdings in Coterra Energy by 59.3% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,454,603 shares of the company’s stock valued at $39,347,000 after purchasing an additional 541,518 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coterra Energy

In other news, VP Michael D. Deshazer sold 14,000 shares of the 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 sale, the vice president now owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related 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 transaction of $1,488,300.00. Following the sale, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the transaction, the vice president now owns 93,988 shares in the company, valued at $2,449,327.28. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CTRA. Morgan Stanley upped their price objective on shares of Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. Piper Sandler raised their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Raymond James boosted their price objective on Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. UBS Group increased their target price on Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Finally, Stephens restated an “overweight” rating and issued a $39.00 price target on shares of Coterra Energy in a research note on Tuesday, January 23rd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and an average target price of $32.67.

Coterra Energy Price Performance

CTRA stock opened at $28.19 on Monday. The company’s 50-day moving average price is $27.30 and its two-hundred day moving average price is $26.36. 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 Inc. has a 12 month low of $22.91 and a 12 month high of $29.89. The firm has a market cap of $21.19 billion, a P/E ratio of 16.29 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last posted its quarterly 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 company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. Coterra Energy had a net margin of 23.34% and a return on equity of 10.80%. On average, analysts anticipate that Coterra Energy Inc. will post 1.82 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

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

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.