Burney Co. Sells 9,406 Shares of Coterra Energy Inc. (NYSE:CTRA)

Burney Co. reduced its holdings in Coterra Energy Inc. (NYSE:CTRA) by 38.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,225 shares of the company’s stock after selling 9,406 shares during the quarter. Burney Co.’s holdings in Coterra Energy were worth $389,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CTRA. Virtu Financial LLC bought a new stake in shares of Coterra Energy during the second quarter worth $862,000. Argent Trust Co acquired a new position in Coterra Energy during the 2nd quarter worth about $507,000. Mercer Global Advisors Inc. ADV grew its holdings in Coterra Energy by 7.3% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 37,485 shares of the company’s stock worth $1,000,000 after acquiring an additional 2,536 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in Coterra Energy by 12.3% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 27,344 shares of the company’s stock valued at $729,000 after acquiring an additional 2,994 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of Coterra Energy by 27.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 83,269 shares of the company’s stock worth $2,091,000 after acquiring an additional 17,782 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors.

Insider Activity at Coterra Energy

In related news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the transaction, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the transaction, the senior vice president now owns 77,075 shares in the company, valued at $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CTRA. Piper Sandler decreased their price target on shares of Coterra Energy from $35.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. UBS Group lifted their target price on Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Truist Financial upped their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Morgan Stanley lifted their price objective on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, Scotiabank cut their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.76.

Coterra Energy Price Performance

CTRA opened at $29.51 on Friday. The company has a fifty day simple moving average of $26.05 and a 200 day simple moving average of $25.03. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock has a market cap of $21.74 billion, a P/E ratio of 17.78, a P/E/G ratio of 0.98 and a beta of 0.27. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 EPS. On average, research analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 2.85%. Coterra Energy’s dividend payout ratio is currently 50.60%.

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.