Russell Investments Group Ltd. Raises Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Russell Investments Group Ltd. increased its holdings in shares of Coterra Energy Inc. (NYSE:CTRAFree Report) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 778,363 shares of the company’s stock after purchasing an additional 9,487 shares during the period. Russell Investments Group Ltd.’s holdings in Coterra Energy were worth $19,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Beacon Investment Advisors LLC increased its holdings in Coterra Energy by 0.7% in the third quarter. Beacon Investment Advisors LLC now owns 62,447 shares of the company’s stock valued at $1,689,000 after buying an additional 422 shares in the last quarter. Stone House Investment Management LLC increased its holdings in Coterra Energy by 32.4% in the fourth quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock valued at $46,000 after buying an additional 438 shares in the last quarter. SouthState Corp increased its holdings in Coterra Energy by 75.4% in the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after buying an additional 454 shares in the last quarter. Trust Co. of Vermont grew its position in shares of Coterra Energy by 1.9% in the third quarter. Trust Co. of Vermont now owns 26,314 shares of the company’s stock valued at $712,000 after purchasing an additional 503 shares during the period. Finally, Cascade Investment Advisors Inc. grew its position in shares of Coterra Energy by 1.1% in the fourth quarter. Cascade Investment Advisors Inc. now owns 51,140 shares of the company’s stock valued at $1,305,000 after purchasing an additional 535 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

CTRA has been the topic of several research analyst reports. Stephens reiterated an “overweight” rating and issued a $39.00 target price on shares of Coterra Energy in a research report on Tuesday, January 23rd. Raymond James lifted their target price on shares of Coterra Energy from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. UBS Group lifted their target price on shares of Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. lifted their target price on shares of Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Finally, Barclays assumed coverage on shares of Coterra Energy in a research report on Wednesday, April 10th. They set an “overweight” rating and a $36.00 price target on the stock. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.47.

Check Out Our Latest Stock Report on Coterra Energy

Insiders Place Their Bets

In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy 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 directly 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 Securities & Exchange Commission, which is available through the SEC website. In other news, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following the sale, the vice president now directly owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Todd M. Roemer sold 55,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were 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 directly owns 176,758 shares in the company, valued at $4,783,071.48. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Coterra Energy Price Performance

Shares of CTRA stock opened at $27.16 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18. The firm’s 50-day moving average is $27.26 and its two-hundred day moving average is $26.41. Coterra Energy Inc. has a 12 month low of $22.91 and a 12 month high of $29.89. The company has a market capitalization of $20.42 billion, a PE ratio of 12.69 and a beta of 0.22.

Coterra Energy (NYSE:CTRAGet Free Report) last issued its 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 12.97% and a net margin of 27.48%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Analysts predict that Coterra Energy Inc. will post 1.82 earnings per share for the current year.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 3.09%. Coterra Energy’s payout ratio is 39.25%.

About Coterra Energy

(Free Report)

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.

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Institutional Ownership by Quarter for Coterra Energy (NYSE:CTRA)

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