Bourgeon Capital Management LLC Boosts Stake in Coterra Energy Inc. (NYSE:CTRA)

Bourgeon Capital Management LLC raised its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 107.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 236,952 shares of the company’s stock after buying an additional 122,487 shares during the period. Bourgeon Capital Management LLC’s holdings in Coterra Energy were worth $6,052,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. City State Bank purchased a new position in shares of Coterra Energy during the fourth quarter valued at $26,000. AdvisorNet Financial Inc increased its position in Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after purchasing an additional 744 shares during the period. Values First Advisors Inc. bought a new stake in shares of Coterra Energy in the 3rd quarter valued at about $57,000. Tobam purchased a new stake in shares of Coterra Energy in the 3rd quarter worth approximately $63,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Coterra Energy during the third quarter valued at approximately $67,000. Institutional investors own 87.92% of the company’s stock.

Insider Transactions at Coterra Energy

In related news, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction dated Wednesday, November 20th. The stock was 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 owns 72,409 shares in the company, valued at $1,937,664.84. The trade was a 18.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the completion of the transaction, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at $2,016,282. The trade was a 27.78 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Coterra Energy Trading Down 1.1 %

Shares of Coterra Energy stock opened at $29.13 on Wednesday. The stock has a market cap of $21.46 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 0.71 and a beta of 0.27. The firm has a fifty day moving average price of $26.13 and a 200 day moving average price of $25.02. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

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 analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the business posted $0.47 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 2.88%. Coterra Energy’s dividend payout ratio is presently 50.60%.

Analyst Ratings Changes

A number of analysts have weighed in on CTRA shares. UBS Group upped their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Barclays raised their price objective on Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Scotiabank decreased their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Susquehanna lifted their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, Morgan Stanley boosted their price objective on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and an average price target of $32.76.

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.