Leeward Investments LLC MA Trims Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Leeward Investments LLC MA lowered its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 466,333 shares of the company’s stock after selling 12,596 shares during the period. Leeward Investments LLC MA’s holdings in Coterra Energy were worth $11,901,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Beacon Investment Advisors LLC grew its stake in Coterra Energy by 0.7% during the third quarter. Beacon Investment Advisors LLC now owns 62,447 shares of the company’s stock valued at $1,689,000 after acquiring an additional 422 shares in the last quarter. Stone House Investment Management LLC lifted its position in Coterra Energy by 32.4% during the fourth quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock valued at $46,000 after purchasing an additional 438 shares during the last quarter. SouthState Corp lifted its position in Coterra Energy by 75.4% during the third 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 lifted its position in Coterra Energy by 1.9% during the third quarter. Trust Co. of Vermont now owns 26,314 shares of the company’s stock valued at $712,000 after purchasing an additional 503 shares during the last quarter. Finally, Cascade Investment Advisors Inc. lifted its position in Coterra Energy by 1.1% during the fourth quarter. Cascade Investment Advisors Inc. now owns 51,140 shares of the company’s stock valued at $1,305,000 after purchasing an additional 535 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CTRA. Scotiabank lifted their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Morgan Stanley lifted their target price on shares of Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Truist Financial lowered their price objective on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating for the company in a report on Friday, April 5th. Barclays began coverage on shares of Coterra Energy in a report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price objective for the company. Finally, Susquehanna boosted their price objective on shares of Coterra Energy from $30.00 to $32.00 and gave the stock a “positive” rating in a report on Monday. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.47.

Insiders Place Their Bets

In related news, VP Michael D. Deshazer sold 14,000 shares of the business’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 sale, the vice president now owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the transaction, the chief accounting officer now 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 the SEC website. Also, 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 in the company, valued at $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Coterra Energy Trading Down 0.5 %

Coterra Energy stock traded down $0.16 during mid-day trading on Friday, reaching $28.28. 4,090,334 shares of the company traded hands, compared to its average volume of 6,782,142. 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’s 50 day moving average price is $27.02 and its 200 day moving average price is $26.44. The firm has a market capitalization of $21.26 billion, a price-to-earnings ratio of 13.27 and a beta of 0.21. Coterra Energy Inc. has a 52-week low of $22.91 and a 52-week high of $29.89.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. On average, analysts anticipate that Coterra Energy Inc. will post 1.87 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. Investors of record on Thursday, March 14th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.97%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 13th. Coterra Energy’s dividend payout ratio is presently 39.25%.

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.