Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC lessened its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 10.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 273,835 shares of the company’s stock after selling 32,738 shares during the quarter. Gotham Asset Management LLC’s holdings in Coterra Energy were worth $6,994,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. City State Bank acquired a new position in shares of Coterra Energy during the fourth quarter worth about $26,000. AdvisorNet Financial Inc lifted its stake in shares of Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after acquiring an additional 744 shares in the last quarter. MCF Advisors LLC lifted its stake in shares of Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after acquiring an additional 869 shares in the last quarter. R Squared Ltd acquired a new position in shares of Coterra Energy in the fourth quarter worth about $32,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Coterra Energy in the fourth quarter worth about $43,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insider Buying and Selling at Coterra Energy

In other news, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the sale, the senior vice president now owns 106,114 shares in the company, valued at approximately $3,086,856.26. This represents a 19.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This trade represents a 21.82% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CTRA. Piper Sandler cut their price target on Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Tuesday. Barclays cut their price target on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Williams Trading set a $37.00 price objective on Coterra Energy in a report on Wednesday, March 5th. Johnson Rice raised Coterra Energy from a “hold” rating to an “accumulate” rating and boosted their price objective for the company from $34.00 to $37.00 in a report on Wednesday, March 12th. Finally, Morgan Stanley set a $28.00 price objective on Coterra Energy in a report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.50.

Coterra Energy Stock Performance

CTRA stock opened at $24.77 on Wednesday. The company has a market capitalization of $18.91 billion, a P/E ratio of 14.92, a PEG ratio of 0.59 and a beta of 0.33. The company has a 50-day simple moving average of $26.26 and a 200 day simple moving average of $26.39. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.09. The business had revenue of $924.00 million during the quarter, compared to the consensus estimate of $1.92 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.51 earnings per share. Sell-side analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Thursday, May 15th. Coterra Energy’s payout ratio is currently 51.16%.

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.