Cognios Beta Neutral Large Cap Fund LP Lowers Position in Coterra Energy Inc. (NYSE:CTRA)

Cognios Beta Neutral Large Cap Fund LP decreased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,618 shares of the company’s stock after selling 642 shares during the period. Cognios Beta Neutral Large Cap Fund LP’s holdings in Coterra Energy were worth $552,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CTRA. Beacon Investment Advisors LLC increased its stake in Coterra Energy by 0.7% in the 3rd 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 during the last quarter. Stone House Investment Management LLC boosted its position 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 worth $46,000 after purchasing an additional 438 shares during the last quarter. SouthState Corp increased its position in shares of Coterra Energy by 75.4% during the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after purchasing an additional 454 shares during the last quarter. Trust Co. of Vermont raised its position in Coterra Energy by 1.9% in the third quarter. Trust Co. of Vermont now owns 26,314 shares of the company’s stock worth $712,000 after acquiring an additional 503 shares during the period. Finally, Miller Howard Investments Inc. NY raised its holdings in shares of Coterra Energy by 0.9% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 58,913 shares of the company’s stock worth $1,594,000 after purchasing an additional 523 shares during the period. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA stock traded up $0.32 during trading hours on Wednesday, reaching $28.45. The company had a trading volume of 5,235,209 shares, compared to its average volume of 6,846,095. The firm has a market cap of $21.39 billion, a PE ratio of 13.20 and a beta of 0.21. The business has a fifty day moving average price of $26.86 and a 200-day moving average price of $26.41. Coterra Energy Inc. has a one year low of $22.91 and a one year high of $29.89. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.54 billion. Sell-side analysts predict that Coterra Energy Inc. will post 1.88 earnings per share for the current fiscal year.

Coterra Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.21 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.84 annualized dividend and a yield of 2.95%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s payout ratio is currently 39.25%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CTRA shares. Piper Sandler lifted their price objective on Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Susquehanna boosted their price objective on shares of Coterra Energy from $30.00 to $32.00 and gave the company a “positive” rating in a research note on Monday. Barclays started 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. UBS Group upped their price target on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, Scotiabank upped their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $32.47.

Insiders Place Their Bets

In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction that occurred 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 sale, the vice president now owns 93,988 shares of the company’s stock, valued at approximately $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 the company’s stock in a transaction that occurred on 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 directly owns 176,758 shares in the company, valued at $4,783,071.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction 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 owns 93,988 shares in the company, valued at approximately $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

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.