Bokf Na Reduces Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Bokf Na lessened its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 17.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 621,446 shares of the company’s stock after selling 132,350 shares during the quarter. Bokf Na owned approximately 0.08% of Coterra Energy worth $15,859,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Invesco Ltd. boosted its stake in Coterra Energy by 1.5% in the 3rd quarter. Invesco Ltd. now owns 10,723,660 shares of the company’s stock worth $290,075,000 after buying an additional 161,776 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Coterra Energy by 8.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,465,383 shares of the company’s stock valued at $267,089,000 after purchasing an additional 848,519 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Coterra Energy by 2.3% in the 3rd quarter. Northern Trust Corp now owns 9,084,114 shares of the company’s stock valued at $245,725,000 after purchasing an additional 201,520 shares in the last quarter. Morgan Stanley lifted its stake in shares of Coterra Energy by 5.9% in the 3rd quarter. Morgan Stanley now owns 8,421,481 shares of the company’s stock valued at $227,801,000 after purchasing an additional 466,511 shares in the last quarter. Finally, Schroder Investment Management Group lifted its stake in shares of Coterra Energy by 8.7% in the 4th quarter. Schroder Investment Management Group now owns 7,815,648 shares of the company’s stock valued at $199,455,000 after purchasing an additional 628,132 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CTRA has been the topic of several research analyst reports. Barclays initiated coverage on Coterra Energy in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price objective on the stock. Piper Sandler lifted their price objective on Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, May 14th. UBS Group lifted their price objective on Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Truist Financial raised Coterra Energy from a “hold” rating to a “buy” rating and boosted their price target for the stock from $27.00 to $35.00 in a research report on Thursday, May 16th. Finally, Mizuho boosted their price target on Coterra Energy from $37.00 to $41.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.73.

Coterra Energy Stock Up 0.7 %

CTRA stock traded up $0.19 during midday trading on Tuesday, hitting $28.31. 1,654,945 shares of the company’s stock were exchanged, compared to its average volume of 6,534,300. The company has a current ratio of 1.49, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 12-month low of $23.60 and a 12-month high of $29.89. The firm has a 50 day moving average price of $27.85 and a 200-day moving average price of $26.43. The stock has a market capitalization of $21.07 billion, a price-to-earnings ratio of 16.25 and a beta of 0.21.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.09. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.38 billion. On average, analysts anticipate that Coterra Energy Inc. will post 1.99 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were issued a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.97%. Coterra Energy’s dividend payout ratio (DPR) is 48.55%.

Insider Activity

In other 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 directly owns 176,758 shares in the company, valued at approximately $4,783,071.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.70% of the company’s stock.

Coterra Energy 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.