Grace & White Inc. NY Lowers Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Grace & White Inc. NY trimmed its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 0.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 150,032 shares of the company’s stock after selling 1,208 shares during the period. Grace & White Inc. NY’s holdings in Coterra Energy were worth $3,829,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. SouthState Corp increased its position in shares of Coterra Energy by 75.4% during the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after acquiring an additional 454 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new stake in shares of Coterra Energy during the fourth quarter valued at approximately $33,000. VisionPoint Advisory Group LLC increased its position in shares of Coterra Energy by 133.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock valued at $35,000 after acquiring an additional 740 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of Coterra Energy during the fourth quarter valued at approximately $33,000. Finally, Stone House Investment Management LLC increased its position in shares of Coterra Energy by 32.4% during the fourth quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock valued at $46,000 after acquiring an additional 438 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Truist Financial reduced their price target on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Stifel Nicolaus reduced their price target on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. UBS Group lifted their target price on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Piper Sandler lifted their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Mizuho reaffirmed a “buy” rating and issued a $34.00 target price on shares of Coterra Energy in a research report on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.47.

Insider Activity at Coterra Energy

In related news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the transaction, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were 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 approximately $2,449,327.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of the business’s stock in a transaction 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 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. 1.70% of the stock is owned by corporate insiders.

Coterra Energy Stock Performance

Shares of Coterra Energy stock traded up $0.20 on Tuesday, hitting $28.14. 4,722,317 shares of the company’s stock were exchanged, compared to its average volume of 6,866,773. The company has a 50-day simple moving average of $26.78 and a 200-day simple moving average of $26.40. The stock has a market capitalization of $21.15 billion, a PE ratio of 13.07 and a beta of 0.21. Coterra Energy Inc. has a 1 year low of $22.91 and a 1 year high of $29.89. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21.

Coterra Energy (NYSE:CTRA) last issued 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). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. As a group, equities analysts anticipate 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. Investors of record on Thursday, March 14th were paid a dividend of $0.21 per share. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.99%. Coterra Energy’s payout ratio is 39.25%.

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.