National Bank of Canada FI Grows Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

National Bank of Canada FI increased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 15.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 426,924 shares of the company’s stock after buying an additional 56,377 shares during the quarter. National Bank of Canada FI owned about 0.06% of Coterra Energy worth $10,967,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Sapient Capital LLC acquired a new stake in shares of Coterra Energy in the fourth quarter worth approximately $1,130,000. Axxcess Wealth Management LLC increased its holdings in shares of Coterra Energy by 70.0% during the 4th quarter. Axxcess Wealth Management LLC now owns 37,452 shares of the company’s stock worth $956,000 after buying an additional 15,427 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in Coterra Energy by 2.2% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 303,087 shares of the company’s stock valued at $7,735,000 after acquiring an additional 6,465 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Coterra Energy by 1,073.1% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 74,634 shares of the company’s stock valued at $1,905,000 after acquiring an additional 68,272 shares during the period. Finally, Amalgamated Bank increased its stake in Coterra Energy by 8.3% during the fourth quarter. Amalgamated Bank now owns 216,079 shares of the company’s stock worth $5,514,000 after acquiring an additional 16,497 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CTRA. Mizuho boosted their target price on Coterra Energy from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Barclays assumed coverage on shares of Coterra Energy in a report on Wednesday, April 10th. They set an “overweight” rating and a $36.00 target price on the stock. JPMorgan Chase & Co. increased their price target on Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Stifel Nicolaus reduced their price objective on Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Finally, Raymond James increased their target price on Coterra Energy from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.73.

Insider Activity

In related news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction dated 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 sale, the chief accounting officer now owns 176,758 shares in the company, valued at $4,783,071.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Coterra Energy 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 value of $364,840.00. Following the completion of the transaction, the vice president now owns 93,988 shares in the company, valued at approximately $2,449,327.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at approximately $4,783,071.48. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $28.07 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.18 and a current ratio of 0.89. The stock has a market capitalization of $21.10 billion, a price-to-earnings ratio of 16.23 and a beta of 0.22. Coterra Energy Inc. has a one year low of $22.91 and a one year high of $29.89. The company’s 50-day simple moving average is $27.44 and its 200-day simple moving average is $26.36.

Coterra Energy (NYSE:CTRA) last released 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 10.75% and a net margin of 23.34%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.54 billion. Equities analysts anticipate that Coterra Energy Inc. will post 1.82 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.21 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.99%. Coterra Energy’s dividend payout ratio (DPR) is 48.55%.

About Coterra Energy

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.