Cognios Beta Neutral Large Cap Fund LP Lowers Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Cognios Beta Neutral Large Cap Fund LP lessened its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,618 shares of the company’s stock after selling 642 shares during the quarter. Cognios Beta Neutral Large Cap Fund LP’s holdings in Coterra Energy were worth $552,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CTRA. Beacon Investment Advisors LLC boosted its holdings in Coterra Energy by 0.7% during the third quarter. Beacon Investment Advisors LLC now owns 62,447 shares of the company’s stock worth $1,689,000 after buying an additional 422 shares in the last quarter. Stone House Investment Management LLC boosted its position in Coterra Energy by 32.4% during the fourth quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock worth $46,000 after purchasing an additional 438 shares in the last quarter. SouthState Corp boosted its position in shares of Coterra Energy by 75.4% in the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after buying an additional 454 shares in the last quarter. Trust Co. of Vermont lifted its holdings in shares of Coterra Energy by 1.9% in the third quarter. Trust Co. of Vermont now owns 26,314 shares of the company’s stock valued at $712,000 after purchasing an additional 503 shares in the last quarter. Finally, Miller Howard Investments Inc. NY lifted its position in shares of Coterra Energy by 0.9% in the third quarter. Miller Howard Investments Inc. NY now owns 58,913 shares of the company’s stock valued at $1,594,000 after acquiring an additional 523 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Coterra Energy Price Performance

Shares of NYSE:CTRA traded up $0.32 during trading hours on Wednesday, hitting $28.45. 5,235,209 shares of the company’s stock traded hands, compared to its average volume of 6,846,095. The company’s fifty day simple moving average is $26.86 and its two-hundred day simple moving average is $26.41. The company has a market cap of $21.39 billion, a price-to-earnings ratio of 13.20 and a beta of 0.21. 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 Inc. has a 52 week low of $22.91 and a 52 week high of $29.89.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.06). The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. As a group, equities analysts anticipate that Coterra Energy Inc. will post 1.88 EPS for the current fiscal year.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.95%. The ex-dividend date was Wednesday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s payout ratio is presently 39.25%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Stephens restated an “overweight” rating and issued a $39.00 price target on shares of Coterra Energy in a report on Tuesday, January 23rd. Susquehanna upped their price objective on Coterra Energy from $30.00 to $32.00 and gave the stock a “positive” rating in a report on Monday. Raymond James upped their price target on Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Piper Sandler boosted their target price on Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, Bank of America upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Friday, January 5th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus price target 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.