1900 Wealth Management LLC Sells 3,442 Shares of Coterra Energy Inc. (NYSE:CTRA)

1900 Wealth Management LLC reduced its position in Coterra Energy Inc. (NYSE:CTRA) by 6.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,567 shares of the company’s stock after selling 3,442 shares during the quarter. 1900 Wealth Management LLC’s holdings in Coterra Energy were worth $1,316,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CTRA. Vontobel Holding Ltd. bought a new stake in Coterra Energy during the third quarter valued at approximately $932,000. AE Wealth Management LLC raised its stake in shares of Coterra Energy by 47.1% during the third quarter. AE Wealth Management LLC now owns 47,891 shares of the company’s stock worth $1,295,000 after acquiring an additional 15,325 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Coterra Energy by 75.7% during the third quarter. IFP Advisors Inc now owns 2,489 shares of the company’s stock worth $67,000 after acquiring an additional 1,072 shares in the last quarter. Ritholtz Wealth Management purchased a new position in shares of Coterra Energy during the third quarter worth approximately $501,000. Finally, SG Americas Securities LLC raised its stake in shares of Coterra Energy by 135.5% during the third quarter. SG Americas Securities LLC now owns 89,569 shares of the company’s stock worth $2,423,000 after acquiring an additional 51,541 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Price Performance

CTRA stock traded down $0.04 during midday trading on Tuesday, hitting $27.90. The company’s stock had a trading volume of 1,010,040 shares, compared to its average volume of 6,818,028. Coterra Energy Inc. has a 12 month low of $22.91 and a 12 month high of $29.89. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $20.98 billion, a price-to-earnings ratio of 13.06 and a beta of 0.21. The company has a 50 day moving average of $26.78 and a two-hundred day moving average of $26.40.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.06). The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. On average, analysts expect that Coterra Energy Inc. will post 1.93 EPS for the current year.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.21 per share. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Wednesday, March 13th. Coterra Energy’s dividend payout ratio is currently 39.25%.

Insider Activity

In other news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the transaction, the chief accounting officer now directly owns 176,758 shares in the company, valued at approximately $4,783,071.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction 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 sale, the vice president now owns 93,988 shares in the company, valued at $2,449,327.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

CTRA has been the topic of several research reports. Morgan Stanley lifted their price target on shares of Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. Piper Sandler boosted their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday. Truist Financial dropped their price target on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Susquehanna upped their price target on shares of Coterra Energy from $30.00 to $32.00 and gave the company a “positive” rating in a research report on Monday. Finally, Stephens reissued an “overweight” rating and issued a $39.00 target price on shares of Coterra Energy in a report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.47.

Coterra Energy Company 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.