Saxon Interests Inc. Buys New Shares in Coterra Energy Inc. (NYSE:CTRA)

Saxon Interests Inc. bought a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,546 shares of the company’s stock, valued at approximately $244,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quent Capital LLC raised its holdings in Coterra Energy by 7.4% during the third quarter. Quent Capital LLC now owns 5,441 shares of the company’s stock valued at $147,000 after acquiring an additional 375 shares during the period. Beacon Investment Advisors LLC raised 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 valued at $1,689,000 after acquiring an additional 422 shares during the period. SouthState Corp raised its holdings in Coterra Energy by 75.4% during the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after acquiring an additional 454 shares during the period. Echo Street Capital Management LLC raised its holdings in Coterra Energy by 5.5% during the fourth quarter. Echo Street Capital Management LLC now owns 9,084 shares of the company’s stock valued at $223,000 after acquiring an additional 477 shares during the period. Finally, Hoxton Planning & Management LLC raised its holdings in Coterra Energy by 3.9% during the first quarter. Hoxton Planning & Management LLC now owns 13,238 shares of the company’s stock valued at $325,000 after acquiring an additional 500 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Trading Up 0.1 %

NYSE CTRA traded up $0.02 during trading hours on Thursday, hitting $27.88. 6,854,369 shares of the company were exchanged, compared to its average volume of 7,097,878. The stock has a 50-day moving average price of $25.70 and a 200 day moving average price of $26.32. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12. Coterra Energy Inc. has a 52 week low of $22.91 and a 52 week high of $29.89. The stock has a market cap of $20.96 billion, a PE ratio of 13.03 and a beta of 0.20.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.54 billion. Analysts forecast that Coterra Energy Inc. will post 1.98 earnings per share for the current fiscal year.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Wednesday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s payout ratio is 39.25%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CTRA. Piper Sandler raised their price target on Coterra Energy from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Raymond James lifted their target price on Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Stifel Nicolaus reduced their target price on Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Wells Fargo & Company raised Coterra Energy from an “equal weight” rating to an “overweight” rating and set a $30.00 target price on the stock in a report on Thursday, December 14th. Finally, Morgan Stanley reduced their target price on Coterra Energy from $27.00 to $26.00 and set an “equal weight” rating on the stock in a report on Thursday. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.77.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the business’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 transaction of $364,840.00. Following the completion of the transaction, the vice president now owns 93,988 shares in the company, valued at $2,449,327.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Michael D. Deshazer sold 14,000 shares of the business’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 completion of the sale, the vice president now owns 93,988 shares in the company, valued at $2,449,327.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of the business’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 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 disclosure for this sale can be found here. 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.