First Interstate Bank Grows Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

First Interstate Bank grew its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 19.3% in the fourth quarter, Holdings Channel reports. The firm owned 9,282 shares of the company’s stock after purchasing an additional 1,500 shares during the period. First Interstate Bank’s holdings in Coterra Energy were worth $237,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CTRA. Vanguard Group Inc. bought a new stake in shares of Coterra Energy during the 1st quarter worth $2,472,575,000. State Street Corp bought a new stake in Coterra Energy in the first quarter worth $1,493,855,000. Geode Capital Management LLC lifted its stake in Coterra Energy by 5.7% in the first quarter. Geode Capital Management LLC now owns 18,494,265 shares of the company’s stock worth $454,088,000 after purchasing an additional 1,000,620 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Coterra Energy by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,080,590 shares of the company’s stock worth $434,980,000 after purchasing an additional 235,636 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Coterra Energy by 3.5% in the third quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock worth $431,329,000 after purchasing an additional 544,768 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTRA has been the subject of several recent research reports. Morgan Stanley lowered their price target on shares of Coterra Energy from $27.00 to $26.00 and set an “equal weight” rating for the company in a research note on Thursday, March 28th. UBS Group boosted their price target on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Piper Sandler upped their price objective on shares of Coterra Energy from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. 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 research note on Wednesday, January 24th. Finally, Bank of America raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Friday, January 5th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $32.00.

Coterra Energy Stock Performance

Shares of NYSE:CTRA remained flat at $27.19 during trading on Wednesday. 6,903,273 shares of the stock were exchanged, compared to its average volume of 5,983,687. The firm’s 50-day moving average price is $26.47 and its 200-day moving average price is $26.36. Coterra Energy Inc. has a 1 year low of $22.91 and a 1 year high of $29.89. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21. The company has a market capitalization of $20.44 billion, a PE ratio of 12.71 and a beta of 0.21.

Coterra Energy (NYSE:CTRA) last posted its quarterly 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). Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Sell-side analysts expect that Coterra Energy Inc. will post 1.92 earnings per share for the current year.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.09%. 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 (DPR) is presently 39.25%.

Insider Activity at Coterra Energy

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction 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 transaction, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction 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 transaction, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction 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 of the company’s stock, valued at $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate 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.