Desjardins Global Asset Management Inc. Grows Position in Coterra Energy Inc. (NYSE:CTRA)

Desjardins Global Asset Management Inc. lifted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 18.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,646 shares of the company’s stock after buying an additional 1,525 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Coterra Energy were worth $246,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. purchased a new position in Coterra Energy in the first quarter worth about $2,472,575,000. State Street Corp purchased a new position in Coterra Energy in the first quarter worth about $1,493,855,000. Geode Capital Management LLC boosted its position 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. boosted its position 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. boosted its position 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 owned by hedge funds and other institutional investors.

Insider Transactions at Coterra Energy

In other news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the transaction, the vice president now owns 93,988 shares in the company, valued at approximately $2,449,327.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the transaction, the vice president now owns 93,988 shares in the company, valued at approximately $2,449,327.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction that occurred on Wednesday, March 20th. The stock was 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 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. Company insiders own 1.70% of the company’s stock.

Coterra Energy Stock Performance

NYSE:CTRA opened at $27.22 on Friday. 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 1 year low of $22.91 and a 1 year high of $29.89. The stock’s 50 day simple moving average is $26.59 and its two-hundred day simple moving average is $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.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share (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 firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. As a group, equities analysts anticipate that Coterra Energy Inc. will post 1.93 earnings per share for the current fiscal year.

Coterra Energy Increases Dividend

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

Analysts Set New Price Targets

CTRA has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday. Mizuho reaffirmed a “buy” rating and set a $34.00 price objective on shares of Coterra Energy in a research report on Wednesday, April 3rd. Truist Financial lowered their price objective on Coterra Energy from $30.00 to $27.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. UBS Group lifted their price objective on Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.20.

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.