Bourgeon Capital Management LLC Purchases 122,487 Shares of Coterra Energy Inc. (NYSE:CTRA)

Bourgeon Capital Management LLC boosted its position in Coterra Energy Inc. (NYSE:CTRA) by 107.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 236,952 shares of the company’s stock after buying an additional 122,487 shares during the quarter. Bourgeon Capital Management LLC’s holdings in Coterra Energy were worth $6,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Perpetual Ltd increased its stake in shares of Coterra Energy by 46.1% during the fourth quarter. Perpetual Ltd now owns 23,774 shares of the company’s stock valued at $607,000 after buying an additional 7,505 shares during the period. Sky Investment Group LLC boosted its holdings in Coterra Energy by 3.7% in the fourth quarter. Sky Investment Group LLC now owns 13,899 shares of the company’s stock valued at $355,000 after acquiring an additional 492 shares in the last quarter. UMB Bank n.a. increased its position in Coterra Energy by 31.4% during the 4th quarter. UMB Bank n.a. now owns 4,354 shares of the company’s stock valued at $111,000 after purchasing an additional 1,041 shares during the period. M.E. Allison & CO. Inc. bought a new position in Coterra Energy in the 4th quarter worth $217,000. Finally, HB Wealth Management LLC lifted its position in shares of Coterra Energy by 12.5% in the 4th quarter. HB Wealth Management LLC now owns 9,583 shares of the company’s stock worth $245,000 after purchasing an additional 1,061 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CTRA shares. Morgan Stanley boosted their price target on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Piper Sandler decreased their target price on Coterra Energy from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Stephens upped their price target on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Barclays increased their price objective on Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, UBS Group boosted their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus target price of $32.76.

Insider Transactions at Coterra Energy

In related news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the sale, the senior vice president now owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. This trade represents a 27.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the sale, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Coterra Energy Price Performance

NYSE CTRA opened at $29.13 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company has a market capitalization of $21.46 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 0.71 and a beta of 0.27. The stock has a 50-day moving average of $26.13 and a 200 day moving average of $25.02. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the firm earned $0.47 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, sell-side analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 2.88%. Coterra Energy’s dividend payout ratio (DPR) is 50.60%.

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.