Mutual of America Capital Management LLC Lowers Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Mutual of America Capital Management LLC decreased its stake in Coterra Energy Inc. (NYSE:CTRA) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 127,515 shares of the company’s stock after selling 7,179 shares during the period. Mutual of America Capital Management LLC’s holdings in Coterra Energy were worth $3,254,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in Coterra Energy by 2.1% in the third quarter. Van ECK Associates Corp now owns 113,399 shares of the company’s stock worth $3,068,000 after acquiring an additional 2,376 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Coterra Energy during the third quarter valued at approximately $1,461,000. Nordea Investment Management AB grew its stake in Coterra Energy by 3.9% during the third quarter. Nordea Investment Management AB now owns 803,979 shares of the company’s stock valued at $21,844,000 after acquiring an additional 30,237 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in Coterra Energy by 5.3% during the fourth quarter. Pinnacle Associates Ltd. now owns 13,443 shares of the company’s stock valued at $343,000 after acquiring an additional 679 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in Coterra Energy by 9.8% during the third quarter. Royal Bank of Canada now owns 3,336,830 shares of the company’s stock valued at $90,261,000 after acquiring an additional 296,676 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $27.22 on Thursday. Coterra Energy Inc. has a one year low of $22.91 and a one year high of $29.89. The company’s 50-day moving average is $26.59 and its 200 day moving average is $26.37. The company has a market capitalization 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 quick ratio of 1.18 and a current ratio of 1.21.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing the consensus estimate 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 net margin of 27.48% and a return on equity of 12.97%. Sell-side analysts expect that Coterra Energy Inc. will post 1.92 EPS for the current fiscal year.

Coterra Energy Increases Dividend

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

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Scotiabank lifted their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Piper Sandler lifted their target price on shares of Coterra Energy from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Mizuho restated a “buy” rating and issued a $34.00 price objective on shares of Coterra Energy in a report on Wednesday, April 3rd. UBS Group boosted their price objective on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, Susquehanna upgraded shares of Coterra Energy from a “neutral” rating to a “positive” rating and lowered their price objective for the stock from $31.00 to $30.00 in a report on Friday, January 26th. Two 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.20.

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.