Waldron Private Wealth LLC Sells 650 Shares of Coterra Energy Inc. (NYSE:CTRA)

Waldron Private Wealth LLC lowered its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 6.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 9,292 shares of the company’s stock after selling 650 shares during the period. Waldron Private Wealth LLC’s holdings in Coterra Energy were worth $237,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CTRA. ICA Group Wealth Management LLC acquired a new position in shares of Coterra Energy in the fourth quarter valued at $25,000. SouthState Corp increased its stake in Coterra Energy by 75.4% in 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. Tennessee Valley Asset Management Partners bought a new stake in Coterra Energy in the fourth quarter valued at about $33,000. VisionPoint Advisory Group LLC raised its position in Coterra Energy by 133.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after purchasing an additional 740 shares in the last quarter. Finally, Achmea Investment Management B.V. bought a new position in Coterra Energy during the first quarter worth about $41,000. 87.92% of the stock is currently owned by institutional investors.

Insider Activity at Coterra Energy

In related news, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at $4,783,071.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the transaction, the vice president now 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. 1.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CTRA has been the subject of a number of recent research reports. Raymond James increased 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. Morgan Stanley lowered their target price on shares of Coterra Energy from $27.00 to $26.00 and set an “equal weight” rating on the stock in a report on Thursday, March 28th. Truist Financial reduced their price target on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Barclays initiated coverage on Coterra Energy in a report on Wednesday, April 10th. They set an “overweight” rating and a $36.00 target price on the stock. Finally, Piper Sandler boosted their target price on Coterra Energy from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Coterra Energy Price Performance

Shares of CTRA opened at $27.19 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12. The stock has a market cap of $20.44 billion, a P/E ratio of 12.71 and a beta of 0.21. The stock’s 50-day moving average price is $26.47 and its two-hundred day moving average price is $26.36. Coterra Energy Inc. has a 1 year low of $22.91 and a 1 year high of $29.89.

Coterra Energy (NYSE:CTRA) last posted its earnings results 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 firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. On average, equities analysts predict that Coterra Energy Inc. will post 1.95 earnings per share for the current year.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Wednesday, March 13th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s payout ratio is 39.25%.

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.