Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in Coterra Energy Inc. (NYSE:CTRA) by 0.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,815,170 shares of the company’s stock after selling 130,431 shares during the period. Victory Capital Management Inc. owned 2.10% of Coterra Energy worth $403,603,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. SouthState Corp grew 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 valued at $29,000 after purchasing an additional 454 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Coterra Energy during the 4th quarter valued at approximately $33,000. Tennessee Valley Asset Management Partners bought a new position in Coterra Energy during the 4th quarter worth $33,000. VisionPoint Advisory Group LLC increased its position in Coterra Energy by 133.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after buying an additional 740 shares during the period. Finally, Headlands Technologies LLC lifted its stake in Coterra Energy by 397.7% in the fourth quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock valued at $44,000 after buying an additional 1,392 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

Coterra Energy Stock Down 2.0 %

CTRA traded down $0.56 during trading on Wednesday, reaching $26.80. 2,562,490 shares of the stock traded hands, compared to its average volume of 6,701,221. The stock’s 50-day simple moving average is $27.22 and its two-hundred day simple moving average is $26.40. 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 Inc. has a fifty-two week low of $22.91 and a fifty-two week high of $29.89. The stock has a market cap of $20.15 billion, a price-to-earnings ratio of 12.79 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. As a group, equities research analysts expect that Coterra Energy Inc. will post 1.82 EPS for the current year.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.21 dividend. The ex-dividend date was Wednesday, March 13th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 3.13%. Coterra Energy’s payout ratio is 39.25%.

Analysts Set New Price Targets

Several analysts recently weighed in on CTRA shares. Susquehanna lifted their price objective on shares of Coterra Energy from $30.00 to $32.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Barclays started coverage on Coterra Energy in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 target price on the stock. Truist Financial decreased their price target on Coterra Energy from $30.00 to $27.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Raymond James upped their price target on shares of Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Finally, Piper Sandler lifted their target price on Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.47.

Insiders Place Their Bets

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the transaction, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $26.06, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Todd M. Roemer sold 55,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following 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 disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Coterra Energy 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.