Frontier Capital Management Co. LLC Has $291,000 Position in Coterra Energy Inc. (NYSE:CTRA)

Frontier Capital Management Co. LLC cut its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 99.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,388 shares of the company’s stock after selling 1,509,144 shares during the quarter. Frontier Capital Management Co. LLC’s holdings in Coterra Energy were worth $291,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of Coterra Energy by 1.9% in the fourth quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company’s stock valued at $1,852,385,000 after buying an additional 1,318,754 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Coterra Energy by 5.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock worth $599,356,000 after purchasing an additional 1,310,965 shares during the last quarter. Geode Capital Management LLC grew its position in Coterra Energy by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company’s stock worth $486,528,000 after purchasing an additional 96,059 shares in the last quarter. Victory Capital Management Inc. grew its stake in Coterra Energy by 5.0% in the 4th quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company’s stock valued at $454,834,000 after purchasing an additional 845,609 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Coterra Energy by 9.0% in the 4th quarter. Invesco Ltd. now owns 12,232,484 shares of the company’s stock worth $312,418,000 after buying an additional 1,011,166 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insider Activity

In other Coterra Energy news, 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 transaction of $941,735.74. Following the completion of the transaction, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. The trade was a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the sale, the senior vice president now owns 106,114 shares of the company’s stock, valued at $3,086,856.26. The trade was a 19.52 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and raised their price objective for the stock from $34.00 to $37.00 in a report on Wednesday, March 12th. Truist Financial increased their price objective on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Monday, January 13th. Williams Trading set a $37.00 target price on Coterra Energy in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their price target on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, Bank of America dropped their price objective on shares of Coterra Energy from $34.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.75.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $23.40 on Friday. The stock has a market cap of $17.88 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.59 and a beta of 0.33. 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. The firm’s 50-day moving average is $26.30 and its 200 day moving average is $26.35.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Monday, May 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.71 by $0.09. The company had revenue of $924.00 million for the quarter, compared to analysts’ expectations of $1.92 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. Coterra Energy’s revenue was up 32.9% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. Sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Thursday, May 15th. Coterra Energy’s dividend payout ratio is presently 51.16%.

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.