Eagle Rock Investment Company LLC Has $1.76 Million Stake in Coterra Energy Inc. (NYSE:CTRA)

Eagle Rock Investment Company LLC decreased its position in Coterra Energy Inc. (NYSE:CTRAFree Report) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,995 shares of the company’s stock after selling 500 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in Coterra Energy were worth $1,761,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. acquired a new stake in shares of Coterra Energy in the first quarter valued at about $2,472,575,000. State Street Corp acquired a new stake in shares of Coterra Energy in the first quarter valued at about $1,493,855,000. Northern Trust Corp acquired a new position in Coterra Energy during the first quarter worth approximately $300,998,000. Invesco Ltd. acquired a new position in Coterra Energy during the first quarter worth approximately $169,781,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in Coterra Energy during the first quarter worth approximately $151,999,000. Institutional investors and hedge funds own 90.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CTRA. Piper Sandler increased their price objective on shares of Coterra Energy from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Susquehanna upgraded Coterra Energy from a “neutral” rating to a “positive” rating and cut their price target for the company from $31.00 to $30.00 in a research note on Friday, January 26th. Wells Fargo & Company raised Coterra Energy from an “equal weight” rating to an “overweight” rating and set a $30.00 target price for the company in a report on Thursday, December 14th. Stephens reaffirmed an “overweight” rating and issued a $39.00 target price on shares of Coterra Energy in a report on Tuesday, January 23rd. Finally, Raymond James upped their target price on Coterra Energy from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Check Out Our Latest Analysis on CTRA

Coterra Energy Stock Performance

Shares of Coterra Energy stock traded up $0.27 during trading hours on Thursday, reaching $27.40. The company had a trading volume of 7,040,088 shares, compared to its average volume of 7,185,938. Coterra Energy Inc. has a one year low of $22.66 and a one year high of $29.89. The business has a fifty day simple moving average of $25.40 and a 200 day simple moving average of $26.33. 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 has a market cap of $20.63 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 0.25 and a beta of 0.20.

Coterra Energy (NYSE:CTRAGet Free Report) last posted 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). 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 12.97% and a net margin of 27.48%. On average, analysts anticipate that Coterra Energy Inc. will post 2 earnings per share for the current fiscal year.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 3.07%. Coterra Energy’s payout ratio is currently 39.25%.

Insider Activity

In other news, VP Michael D. Deshazer sold 14,000 shares of the business’s 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 completion of the sale, the vice president now 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 at this hyperlink. Insiders own 1.70% of the company’s stock.

Coterra Energy Profile

(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.

Read More

Want to see what other hedge funds are holding CTRA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coterra Energy Inc. (NYSE:CTRAFree Report).

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

Receive News & Ratings for Coterra Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coterra Energy and related companies with MarketBeat.com's FREE daily email newsletter.