Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Simmons Bank

Simmons Bank reduced its stake in Coterra Energy Inc. (NYSE:CTRA) by 4.5% in the fourth quarter, HoldingsChannel reports. The fund owned 120,432 shares of the company’s stock after selling 5,657 shares during the quarter. Simmons Bank’s holdings in Coterra Energy were worth $3,073,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. SouthState Corp raised its position in Coterra Energy by 75.4% in the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after acquiring an additional 454 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new stake in Coterra Energy during the fourth quarter worth approximately $33,000. VisionPoint Advisory Group LLC grew its position in Coterra Energy by 133.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after buying an additional 740 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in shares of Coterra Energy in the fourth quarter valued at $33,000. Finally, Headlands Technologies LLC increased its holdings in shares of Coterra Energy by 397.7% in the fourth quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock valued at $44,000 after buying an additional 1,392 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CTRA has been the topic of a number of recent research reports. Truist Financial decreased their target price on Coterra Energy from $30.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, April 5th. UBS Group upped their price objective on shares of Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Raymond James raised their target price on shares of Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Morgan Stanley raised their price objective on shares of Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. Finally, Susquehanna raised their target price on Coterra Energy from $32.00 to $33.00 and gave the stock a “positive” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.73.

Insider Buying and Selling

In related news, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction on 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 completion of the sale, 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 legal filing with the SEC, which is available through this link. In other news, VP Michael D. Deshazer sold 14,000 shares of the company’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 directly owns 93,988 shares in the company, valued at $2,449,327.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Todd M. Roemer sold 55,000 shares of the 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 completion of the sale, the chief accounting officer now directly 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 Stock Down 1.0 %

Shares of CTRA traded down $0.27 during mid-day trading on Tuesday, hitting $28.08. 6,189,873 shares of the company’s stock were exchanged, compared to its average volume of 6,785,378. The company has a quick ratio of 1.18, a current ratio of 0.89 and a debt-to-equity ratio of 0.20. Coterra Energy Inc. has a twelve month low of $22.91 and a twelve month high of $29.89. The firm has a fifty day moving average of $27.39 and a two-hundred day moving average of $26.34. The stock has a market cap of $21.11 billion, a price-to-earnings ratio of 16.23 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.54 billion. On average, sell-side analysts forecast that Coterra Energy Inc. will post 1.82 earnings per share for the current year.

Coterra Energy Announces Dividend

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