Zurich Insurance Group Ltd FI Invests $57.88 Million in Coterra Energy Inc. (NYSE:CTRA)

Zurich Insurance Group Ltd FI purchased a new position in shares of Coterra Energy Inc. (NYSE:CTRA) in the 4th quarter, Holdings Channel.com reports. The firm purchased 2,266,117 shares of the company’s stock, valued at approximately $57,877,000.

Other large investors have also modified their holdings of the company. MCF Advisors LLC grew its holdings in Coterra Energy by 230.5% during 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 during the period. R Squared Ltd acquired a new stake in Coterra Energy in the fourth quarter valued at $32,000. Plato Investment Management Ltd acquired a new stake in Coterra Energy in the fourth quarter valued at $43,000. Deseret Mutual Benefit Administrators grew its holdings in Coterra Energy by 33.2% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company’s stock valued at $44,000 after purchasing an additional 429 shares during the last quarter. Finally, VSM Wealth Advisory LLC acquired a new stake in Coterra Energy in the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CTRA shares. Piper Sandler lowered their target price on Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Jefferies Financial Group upped their target price on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, February 4th. Morgan Stanley set a $28.00 price objective on Coterra Energy in a research note on Tuesday, April 15th. Johnson Rice raised Coterra Energy from a “hold” rating to an “accumulate” rating and increased their price objective for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. Finally, Mizuho decreased their price objective on Coterra Energy from $38.00 to $36.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Three 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 company’s stock. Based on data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $33.50.

Coterra Energy Stock Down 1.2%

Shares of NYSE:CTRA opened at $24.50 on Tuesday. The stock’s 50-day moving average price is $26.08 and its two-hundred day moving average price is $26.43. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The firm has a market cap of $18.70 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 0.59 and a beta of 0.33.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.09. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm had revenue of $924.00 million for the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the company earned $0.51 EPS. The firm’s quarterly revenue was up 32.9% on a year-over-year basis. On average, research analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The firm 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 $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Thursday, May 15th. Coterra Energy’s payout ratio is 51.16%.

Insider Transactions at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the transaction, the senior vice president now directly owns 126,770 shares in the company, valued at $3,374,617.40. This trade represents a 21.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the firm’s 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 in the company, valued at approximately $3,086,856.26. This trade represents a 19.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

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.