Gallacher Capital Management LLC Makes New Investment in Coterra Energy Inc. (NYSE:CTRA)

Gallacher Capital Management LLC acquired a new position in shares of Coterra Energy Inc. (NYSE:CTRA) in the fourth quarter, Holdings Channel reports. The firm acquired 21,062 shares of the company’s stock, valued at approximately $538,000.

A number of other hedge funds have also recently made changes to their positions in CTRA. Beacon Investment Advisors LLC grew its stake in shares of Coterra Energy by 0.7% during the third quarter. Beacon Investment Advisors LLC now owns 62,447 shares of the company’s stock worth $1,689,000 after acquiring an additional 422 shares during the last quarter. Stone House Investment Management LLC grew its position in Coterra Energy by 32.4% during the 4th 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 stake in 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 in the last quarter. Trust Co. of Vermont raised its holdings in shares of 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 buying an additional 503 shares during the last quarter. Finally, Cascade Investment Advisors Inc. lifted its stake in shares of Coterra Energy by 1.1% during the fourth quarter. Cascade Investment Advisors Inc. now owns 51,140 shares of the company’s stock worth $1,305,000 after buying an additional 535 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

NYSE:CTRA traded up $1.03 during trading hours on Friday, reaching $28.19. 11,386,229 shares of the company were exchanged, compared to its average volume of 5,764,794. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12. The firm has a market cap of $21.19 billion, a PE ratio of 16.29 and a beta of 0.22. Coterra Energy Inc. has a twelve month low of $22.91 and a twelve month high of $29.89. The stock’s 50-day moving average is $27.30 and its 200-day 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). The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Coterra Energy had a return on equity of 10.80% and a net margin of 23.34%. On average, sell-side analysts anticipate that Coterra Energy Inc. will post 1.82 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.98%. The ex-dividend date is Wednesday, May 15th. Coterra Energy’s dividend payout ratio is currently 48.55%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CTRA. Scotiabank raised 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. Stephens restated an “overweight” rating and issued a $39.00 price objective on shares of Coterra Energy in a research note on Tuesday, January 23rd. JPMorgan Chase & Co. upped their target price on Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Truist Financial reduced their price target on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Finally, Raymond James upped their price objective on shares of Coterra Energy from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $32.67.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction 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 transaction, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $364,840.00. Following the completion of the sale, the vice president now directly owns 93,988 shares of the company’s stock, 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 insiders.

Coterra Energy Company 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.