RNC Capital Management LLC Sells 4,805 Shares of Coterra Energy Inc. (NYSE:CTRA)

RNC Capital Management LLC decreased its position in Coterra Energy Inc. (NYSE:CTRA) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,358 shares of the company’s stock after selling 4,805 shares during the period. RNC Capital Management LLC’s holdings in Coterra Energy were worth $1,949,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Kingswood Wealth Advisors LLC purchased a new stake in shares of Coterra Energy during the fourth quarter worth $219,000. Raymond James & Associates lifted its position in shares of Coterra Energy by 2.3% during the fourth quarter. Raymond James & Associates now owns 1,122,446 shares of the company’s stock worth $28,645,000 after acquiring an additional 25,462 shares in the last quarter. AustralianSuper Pty Ltd lifted its position in shares of Coterra Energy by 14.3% during the fourth quarter. AustralianSuper Pty Ltd now owns 216,608 shares of the company’s stock worth $5,528,000 after acquiring an additional 27,030 shares in the last quarter. Premier Path Wealth Partners LLC purchased a new stake in shares of Coterra Energy during the fourth quarter worth $203,000. Finally, Accurate Wealth Management LLC lifted its position in shares of Coterra Energy by 67.4% during the fourth quarter. Accurate Wealth Management LLC now owns 20,231 shares of the company’s stock worth $509,000 after acquiring an additional 8,148 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Insider Activity

In other news, CAO Todd M. Roemer sold 55,000 shares of the firm’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 transaction, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Michael D. Deshazer sold 14,000 shares of the 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 completion of the sale, the vice president now directly owns 93,988 shares in the company, valued at $2,449,327.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of the 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 of the company’s stock, valued at $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

Several equities research analysts have issued reports on CTRA shares. Bank of America upgraded Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Friday, January 5th. Mizuho decreased their price target on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, March 21st. Stephens reaffirmed an “overweight” rating and issued a $39.00 price target on shares of Coterra Energy in a report on Tuesday, January 23rd. Piper Sandler upped their price target on shares of Coterra Energy from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Finally, Stifel Nicolaus decreased their price target on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Two analysts have rated the stock with a hold rating and eleven 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 a consensus price target of $31.85.

Coterra Energy Stock Up 1.5 %

Shares of NYSE:CTRA opened at $27.87 on Thursday. The stock’s 50-day moving average price is $25.64 and its 200-day moving average price is $26.31. Coterra Energy Inc. has a 12-month low of $22.91 and a 12-month high of $29.89. The stock has a market capitalization of $20.95 billion, a P/E ratio of 13.02 and a beta of 0.20. 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 (NYSE:CTRA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.54 billion. On average, equities analysts anticipate that Coterra Energy Inc. will post 1.99 earnings per share for the current year.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th will be paid a dividend of $0.21 per share. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Wednesday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is 39.25%.

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.