Unique Wealth Strategies LLC Buys Shares of 25,545 Coterra Energy Inc. (NYSE:CTRA)

Unique Wealth Strategies LLC bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 25,545 shares of the company’s stock, valued at approximately $652,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CTRA. Significant Wealth Partners LLC bought a new stake in shares of Coterra Energy in the 4th quarter valued at $1,604,000. Van ECK Associates Corp increased its holdings in Coterra Energy by 2.1% in the 3rd quarter. Van ECK Associates Corp now owns 113,399 shares of the company’s stock worth $3,068,000 after acquiring an additional 2,376 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Coterra Energy during the third quarter valued at about $1,461,000. Nordea Investment Management AB boosted its position in Coterra Energy by 3.9% during the third quarter. Nordea Investment Management AB now owns 803,979 shares of the company’s stock worth $21,844,000 after purchasing an additional 30,237 shares during the period. Finally, Pinnacle Associates Ltd. increased its stake in shares of Coterra Energy by 5.3% in the fourth quarter. Pinnacle Associates Ltd. now owns 13,443 shares of the company’s stock worth $343,000 after purchasing an additional 679 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CTRA. Stephens reaffirmed an “overweight” rating and issued a $39.00 price objective on shares of Coterra Energy in a report on Tuesday, January 23rd. Bank of America upgraded Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Friday, January 5th. Raymond James increased their price objective on Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Susquehanna raised their target price on Coterra Energy from $30.00 to $32.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Finally, Mizuho reiterated a “buy” rating and set a $34.00 price target on shares of Coterra Energy in a research report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.47.

Insiders Place Their Bets

In related news, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the completion of the transaction, 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 can be accessed through this link. In related news, VP Michael D. Deshazer sold 14,000 shares of the 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 sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of the firm’s 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 of the company’s stock, valued at $4,783,071.48. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Coterra Energy Price Performance

NYSE:CTRA traded down $0.14 during midday trading on Friday, hitting $28.29. The company had a trading volume of 4,093,321 shares, compared to its average volume of 5,614,611. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12. The stock’s fifty day moving average price is $27.10 and its 200-day moving average price is $26.43. Coterra Energy Inc. has a 52-week low of $22.91 and a 52-week high of $29.89. The company has a market capitalization of $21.27 billion, a PE ratio of 13.22 and a beta of 0.21.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. As a group, research analysts expect that Coterra Energy Inc. will post 1.82 earnings per share for the current year.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid 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 2.97%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s payout ratio is presently 39.25%.

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.