Mraz Amerine & Associates Inc. Sells 989 Shares of Coterra Energy Inc. (NYSE:CTRA)

Mraz Amerine & Associates Inc. reduced its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 118,737 shares of the company’s stock after selling 989 shares during the period. Coterra Energy accounts for approximately 0.6% of Mraz Amerine & Associates Inc.’s investment portfolio, making the stock its 23rd biggest position. Mraz Amerine & Associates Inc.’s holdings in Coterra Energy were worth $3,030,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Van ECK Associates Corp raised its holdings in Coterra Energy by 2.1% during the 3rd quarter. Van ECK Associates Corp now owns 113,399 shares of the company’s stock valued at $3,068,000 after acquiring an additional 2,376 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Coterra Energy during the third quarter valued at about $1,461,000. Nordea Investment Management AB raised its stake in Coterra Energy by 3.9% in the third quarter. Nordea Investment Management AB now owns 803,979 shares of the company’s stock worth $21,844,000 after buying an additional 30,237 shares in the last quarter. Pinnacle Associates Ltd. raised its stake in Coterra Energy by 5.3% in the fourth quarter. Pinnacle Associates Ltd. now owns 13,443 shares of the company’s stock worth $343,000 after buying an additional 679 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in Coterra Energy by 9.8% in the third quarter. Royal Bank of Canada now owns 3,336,830 shares of the company’s stock worth $90,261,000 after buying an additional 296,676 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Price Performance

Shares of Coterra Energy stock traded up $0.02 on Wednesday, hitting $27.22. The company’s stock had a trading volume of 5,466,169 shares, compared to its average volume of 6,945,839. Coterra Energy Inc. has a 52-week low of $22.91 and a 52-week 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 fifty day moving average price of $26.59 and a 200-day moving average price of $26.37. The company has a market capitalization of $20.46 billion, a P/E ratio of 12.72 and a beta of 0.21.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. On average, equities research analysts expect that Coterra Energy Inc. will post 1.92 earnings per share for the current fiscal year.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s dividend payout ratio is 39.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CTRA shares. Barclays began coverage on shares of Coterra Energy in a report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 target price on the stock. Stifel Nicolaus cut their target price on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Scotiabank lifted their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Mizuho reaffirmed a “buy” rating and set a $34.00 price target on shares of Coterra Energy in a research note on Wednesday, April 3rd. Finally, Stephens reiterated an “overweight” rating and set a $39.00 price objective on shares of Coterra Energy in a report on Tuesday, January 23rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and an average price target of $32.20.

Insider Buying and Selling

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were 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 of the company’s stock, valued at $4,783,071.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the transaction, the vice president now owns 93,988 shares in the company, valued at $2,449,327.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

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.