Washington Capital Management Inc. Sells 7,200 Shares of Coterra Energy Inc. (NYSE:CTRA)

Washington Capital Management Inc. lowered its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 27.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,800 shares of the company’s stock after selling 7,200 shares during the period. Washington Capital Management Inc.’s holdings in Coterra Energy were worth $543,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Private Trust Co. NA increased its stake in shares of Coterra Energy by 20.0% during the fourth quarter. Private Trust Co. NA now owns 2,140 shares of the company’s stock worth $55,000 after purchasing an additional 356 shares during the period. Investors Research Corp increased its stake in shares of Coterra Energy by 45.2% during the first quarter. Investors Research Corp now owns 1,311 shares of the company’s stock worth $38,000 after purchasing an additional 408 shares during the period. New York Life Investment Management LLC grew its position in Coterra Energy by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 99,584 shares of the company’s stock worth $2,543,000 after buying an additional 421 shares in the last quarter. Deseret Mutual Benefit Administrators increased its stake in Coterra Energy by 33.2% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company’s stock worth $44,000 after acquiring an additional 429 shares during the period. Finally, V Square Quantitative Management LLC increased its stake in Coterra Energy by 3.5% during the 4th quarter. V Square Quantitative Management LLC now owns 13,137 shares of the company’s stock worth $336,000 after acquiring an additional 440 shares during the period. Institutional investors own 87.92% of the company’s stock.

Insider Transactions at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of the business’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 sale, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at $3,086,856.26. The trade was a 19.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of the business’s 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 sale, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at $3,374,617.40. The trade was a 21.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on CTRA. Piper Sandler lowered their price objective on Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Scotiabank lowered their price objective on Coterra Energy from $38.00 to $33.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Susquehanna lowered their price objective on Coterra Energy from $34.00 to $32.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Johnson Rice upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and raised their price objective for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. Finally, Barclays lowered their price objective 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. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $33.50.

Coterra Energy Stock Performance

CTRA stock opened at $25.59 on Friday. The stock has a 50-day moving average price of $25.00 and a 200-day moving average price of $26.39. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The firm has a market cap of $19.53 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 0.59 and a beta of 0.33.

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. 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 during the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the company posted $0.51 EPS. The business’s quarterly revenue was up 32.9% on a year-over-year basis. As a group, equities research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.44%. The ex-dividend date was Thursday, May 15th. Coterra Energy’s dividend payout ratio (DPR) is presently 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.