Cascade Investment Advisors Inc. Boosts Stake in Coterra Energy Inc. (NYSE:CTRA)

Cascade Investment Advisors Inc. grew its stake in Coterra Energy Inc. (NYSE:CTRA) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,265 shares of the company’s stock after buying an additional 1,125 shares during the period. Cascade Investment Advisors Inc.’s holdings in Coterra Energy were worth $1,457,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CTRA. Beacon Investment Advisors LLC raised its holdings 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 purchasing an additional 422 shares during the last quarter. Stone House Investment Management LLC raised its holdings in shares of Coterra Energy by 32.4% during the fourth 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 raised its holdings in shares of Coterra Energy by 75.4% during the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after purchasing an additional 454 shares during the last quarter. Financial Advisors Network Inc. raised its holdings in shares of Coterra Energy by 3.6% during the fourth quarter. Financial Advisors Network Inc. now owns 14,575 shares of the company’s stock worth $372,000 after purchasing an additional 501 shares during the last quarter. Finally, Trust Co. of Vermont grew 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 buying an additional 503 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Piper Sandler raised their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday, May 14th. Stifel Nicolaus dropped their price target on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. JPMorgan Chase & Co. raised their price target on shares of Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Morgan Stanley raised their price target 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. Finally, Barclays assumed coverage on shares of Coterra Energy in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 target price on the stock. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.67.

Insiders Place Their Bets

In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy 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 transaction, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Todd M. Roemer sold 55,000 shares of the business’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 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 Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction that occurred 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 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 insiders.

Coterra Energy Price Performance

CTRA traded down $0.41 on Thursday, reaching $27.08. 5,679,577 shares of the company’s stock were exchanged, compared to its average volume of 6,586,039. The stock has a market cap of $20.15 billion, a PE ratio of 15.65 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 fifty day moving average price is $27.78 and its 200-day moving average price is $26.37. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.46.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.38 billion. Sell-side analysts expect that Coterra Energy Inc. will post 1.82 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Wednesday, May 15th. Coterra Energy’s dividend payout ratio (DPR) is presently 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.