Keel Point LLC Makes New $204,000 Investment in Coterra Energy Inc. (NYSE:CTRA)

Keel Point LLC bought a new position in Coterra Energy Inc. (NYSE:CTRA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,975 shares of the company’s stock, valued at approximately $204,000.

A number of other hedge funds have also recently made changes to their positions in CTRA. Vanguard Group Inc. bought a new position in Coterra Energy in the 1st quarter worth $2,472,575,000. State Street Corp bought a new position in shares of Coterra Energy during the first quarter valued at approximately $1,493,855,000. Northern Trust Corp bought a new position in shares of Coterra Energy during the first quarter valued at approximately $300,998,000. Invesco Ltd. bought a new stake in shares of Coterra Energy in the 1st quarter worth approximately $169,781,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in shares of Coterra Energy in the 1st quarter worth approximately $151,999,000. 87.92% of the stock is currently owned by institutional investors.

Insider Transactions at Coterra Energy

In related news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction 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 transaction, the vice president now owns 93,988 shares in the company, valued at approximately $2,449,327.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Todd M. Roemer sold 55,000 shares of the business’s 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 transaction, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael D. Deshazer sold 14,000 shares of the company’s 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 transaction, the vice president now owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Coterra Energy Trading Up 0.1 %

Shares of CTRA stock opened at $27.22 on Thursday. Coterra Energy Inc. has a 1 year low of $22.91 and a 1 year high of $29.89. The firm has a fifty day moving average price of $26.59 and a 200-day moving average price of $26.37. The company has a market cap of $20.46 billion, a price-to-earnings ratio of 12.72 and a beta of 0.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18.

Coterra Energy (NYSE:CTRA) last issued 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 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 analysts’ expectations of $1.54 billion. As a group, equities analysts predict that Coterra Energy Inc. will post 1.92 earnings per share for the current year.

Coterra Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.21 dividend. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Wednesday, March 13th. Coterra Energy’s dividend payout ratio is presently 39.25%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Raymond James boosted their target price on Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Stephens reaffirmed an “overweight” rating and issued a $39.00 target price on shares of Coterra Energy in a report on Tuesday, January 23rd. Bank of America upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Friday, January 5th. UBS Group raised their price target on shares of Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, Barclays started coverage on Coterra Energy in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.20.

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.