Man Group plc Raises Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Man Group plc grew its stake in Coterra Energy Inc. (NYSE:CTRA) by 81.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,842,621 shares of the company’s stock after acquiring an additional 2,172,931 shares during the quarter. Man Group plc’s holdings in Coterra Energy were worth $123,681,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. City State Bank purchased a new stake in shares of Coterra Energy in the fourth quarter valued at $26,000. AdvisorNet Financial Inc lifted its position 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 valued at $29,000 after acquiring an additional 744 shares in the last quarter. MCF Advisors LLC increased its stake in Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares during the last quarter. R Squared Ltd acquired a new position in Coterra Energy in the fourth quarter valued at $32,000. Finally, Plato Investment Management Ltd acquired a new position in Coterra Energy in the fourth quarter valued at $43,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $24.77 on Wednesday. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The business has a 50-day moving average of $26.26 and a 200-day moving average of $26.39. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The company has a market capitalization of $18.91 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 0.59 and a beta of 0.33.

Coterra Energy (NYSE:CTRA) last issued its earnings results 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 company had revenue of $924.00 million during the quarter, compared to the consensus estimate of $1.92 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company’s revenue was up 32.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 earnings per share. On average, equities analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

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

Insider Activity at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the transaction, the senior vice president now owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. This represents a 19.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the transaction, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This 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 company insiders.

Analysts Set New Price Targets

Several research firms recently commented on CTRA. Bank of America dropped their target price on Coterra Energy from $34.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, April 29th. Johnson Rice upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and upped their target price for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. Barclays dropped their target price on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Wells Fargo & Company upped their target price on Coterra Energy from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Finally, The Goldman Sachs Group upped their price target on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.50.

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.