Los Angeles Capital Management LLC Trims Stake in Coterra Energy Inc. (NYSE:CTRA)

Los Angeles Capital Management LLC cut its stake in Coterra Energy Inc. (NYSE:CTRA) by 48.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 110,533 shares of the company’s stock after selling 103,257 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Coterra Energy were worth $2,821,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CTRA. Charles Schwab Investment Management Inc. increased its stake in shares of Coterra Energy by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,080,590 shares of the company’s stock worth $434,980,000 after acquiring an additional 235,636 shares in the last quarter. Victory Capital Management Inc. increased its position 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 buying an additional 544,768 shares in the last quarter. Invesco Ltd. raised its stake in Coterra Energy by 1.5% during the third quarter. Invesco Ltd. now owns 10,723,660 shares of the company’s stock valued at $290,075,000 after buying an additional 161,776 shares during the last quarter. Northern Trust Corp raised its stake in Coterra Energy by 2.3% during the third quarter. Northern Trust Corp now owns 9,084,114 shares of the company’s stock valued at $245,725,000 after buying an additional 201,520 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Coterra Energy by 5.9% in the third quarter. Morgan Stanley now owns 8,421,481 shares of the company’s stock worth $227,801,000 after acquiring an additional 466,511 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

Coterra Energy Trading Up 0.5 %

Shares of NYSE:CTRA opened at $28.34 on Tuesday. The stock’s 50-day simple moving average is $27.35 and its two-hundred day simple moving average is $26.35. The stock has a market capitalization of $21.31 billion, a price-to-earnings ratio of 16.38 and a beta of 0.22. Coterra Energy Inc. has a 52-week low of $22.91 and a 52-week high of $29.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.18 and a current ratio of 0.89.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.06). The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. Analysts expect that Coterra Energy Inc. will post 1.82 EPS for the current year.

Coterra Energy Dividend Announcement

The firm 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. This represents a $0.84 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Wednesday, May 15th. Coterra Energy’s dividend payout ratio is presently 48.55%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Stifel Nicolaus lowered their price target on Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Barclays assumed coverage on shares of Coterra Energy in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 target price on the stock. JPMorgan Chase & Co. raised their price target 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. Piper Sandler upped their price objective on Coterra Energy from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, UBS Group lifted their target price on Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.67.

Insider Activity

In related news, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction 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 directly 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 SEC, which is available through the SEC website. In other news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the sale, 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 filing with the SEC, which is accessible through the SEC website. Also, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy 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 transaction, the vice president now owns 93,988 shares in the company, valued at approximately $2,449,327.28. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

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.