Sigma Planning Corp Trims Stake in Coterra Energy Inc. (NYSE:CTRA)

Sigma Planning Corp lowered its position in Coterra Energy Inc. (NYSE:CTRA) by 35.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,375 shares of the company’s stock after selling 9,364 shares during the quarter. Sigma Planning Corp’s holdings in Coterra Energy were worth $443,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Coterra Energy by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,080,590 shares of the company’s stock valued at $434,980,000 after acquiring an additional 235,636 shares during the period. Victory Capital Management Inc. raised its stake in shares of Coterra Energy by 3.5% in the third 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. Invesco Ltd. raised its stake in shares of Coterra Energy by 1.5% in the third quarter. Invesco Ltd. now owns 10,723,660 shares of the company’s stock valued at $290,075,000 after acquiring an additional 161,776 shares during the period. Northern Trust Corp raised its stake in shares of Coterra Energy by 2.3% in the third quarter. Northern Trust Corp now owns 9,084,114 shares of the company’s stock valued at $245,725,000 after acquiring an additional 201,520 shares during the period. Finally, Morgan Stanley raised its stake in shares of Coterra Energy by 5.9% in the third quarter. Morgan Stanley now owns 8,421,481 shares of the company’s stock valued at $227,801,000 after acquiring an additional 466,511 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

CTRA has been the topic of several recent analyst reports. Truist Financial reduced their price target on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Susquehanna raised their price target on shares of Coterra Energy from $30.00 to $32.00 and gave the stock a “positive” rating in a research note on Monday. Piper Sandler raised their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Scotiabank raised their price target 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. Finally, Bank of America raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Friday, January 5th. 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 MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus target price of $32.47.

Insiders Place Their Bets

In other 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 transaction, the vice president now owns 93,988 shares in the company, valued at $2,449,327.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $364,840.00. Following the completion of the transaction, the vice president now directly 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.

Coterra Energy Trading Down 0.0 %

NYSE CTRA opened at $28.45 on Friday. Coterra Energy Inc. has a 52 week low of $22.91 and a 52 week high of $29.89. The company has a 50 day moving average price of $27.02 and a 200 day moving average price of $26.44. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12. The firm has a market cap of $21.39 billion, a PE ratio of 13.29 and a beta of 0.21.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results 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). The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.54 billion. Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. As a group, sell-side analysts forecast that Coterra Energy Inc. will post 1.87 EPS for the current fiscal year.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. 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 yield of 2.95%. Coterra Energy’s dividend payout ratio (DPR) is 39.25%.

Coterra Energy 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.