Delaware Ladera Management Company Inc. Buys New Position in Coterra Energy Inc. (NYSE:CTRA)

Delaware Ladera Management Company Inc. purchased a new position in shares of Coterra Energy Inc. (NYSE:CTRA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,525 shares of the company’s stock, valued at approximately $90,000. Coterra Energy makes up approximately 30.2% of Delaware Ladera Management Company Inc.’s portfolio, making the stock its 3rd largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. City State Bank acquired a new position in shares of Coterra Energy during the fourth quarter worth $26,000. AdvisorNet Financial Inc lifted its holdings in Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after buying an additional 744 shares in the last quarter. MCF Advisors LLC lifted its holdings in Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after buying an additional 869 shares in the last quarter. R Squared Ltd purchased a new position in Coterra Energy in the 4th quarter valued at about $32,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of Coterra Energy during the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Insider Buying and Selling at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the transaction, the senior vice president now owns 106,114 shares in the company, valued at $3,086,856.26. This trade represents a 19.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on CTRA. Williams Trading set a $37.00 price target on Coterra Energy in a research note on Wednesday, March 5th. Barclays reduced their target price on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday. Scotiabank dropped their price target on shares of Coterra Energy from $38.00 to $33.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and increased their price objective for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. Finally, Wells Fargo & Company raised their price objective on shares of Coterra Energy from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus price target of $33.85.

Coterra Energy Stock Down 9.1 %

Coterra Energy stock opened at $22.98 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company has a 50-day simple moving average of $26.51 and a 200-day simple moving average of $26.38. The firm has a market capitalization of $17.56 billion, a P/E ratio of 13.84, a P/E/G ratio of 0.59 and a beta of 0.33.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Monday, May 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.71 by $0.09. The firm had revenue of $924.00 million during the quarter, compared to analysts’ expectations of $1.92 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. Coterra Energy’s quarterly revenue was up 32.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. As a group, equities analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Thursday, May 15th. Coterra Energy’s dividend payout ratio is currently 58.28%.

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.