Parkside Financial Bank & Trust Increases Stake in Coterra Energy Inc. (NYSE:CTRA)

Parkside Financial Bank & Trust increased its position in Coterra Energy Inc. (NYSE:CTRA) by 256.8% in the 4th quarter, HoldingsChannel reports. The fund owned 9,201 shares of the company’s stock after purchasing an additional 6,622 shares during the period. Parkside Financial Bank & Trust’s holdings in Coterra Energy were worth $235,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the stock. Illinois Municipal Retirement Fund grew its holdings in Coterra Energy by 17.5% during the 4th quarter. Illinois Municipal Retirement Fund now owns 302,501 shares of the company’s stock valued at $7,720,000 after buying an additional 45,040 shares in the last quarter. Foster & Motley Inc. grew its holdings in Coterra Energy by 63.4% during the 4th quarter. Foster & Motley Inc. now owns 31,055 shares of the company’s stock valued at $793,000 after buying an additional 12,044 shares in the last quarter. Significant Wealth Partners LLC purchased a new position in shares of Coterra Energy during the fourth quarter worth about $1,604,000. OLD National Bancorp IN lifted its position in Coterra Energy by 0.8% in the 4th quarter. OLD National Bancorp IN now owns 304,701 shares of the company’s stock worth $7,776,000 after buying an additional 2,503 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Coterra Energy by 2.5% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 107,419 shares of the company’s stock worth $2,741,000 after buying an additional 2,659 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on CTRA shares. Morgan Stanley boosted their price objective on Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Mizuho reissued a “buy” rating and set a $34.00 target price on shares of Coterra Energy in a research note on Wednesday, April 3rd. Truist Financial reduced their target price on Coterra Energy from $30.00 to $27.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Barclays initiated coverage on Coterra Energy in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price target on Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.47.

Insider Buying and Selling

In related news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the sale, the chief accounting officer now owns 176,758 shares in the company, valued at $4,783,071.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the firm’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 transaction of $1,488,300.00. Following the completion of the transaction, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following 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 currently owned by company insiders.

Coterra Energy Stock Performance

Shares of NYSE CTRA traded up $0.16 during trading on Wednesday, hitting $28.29. The company had a trading volume of 1,536,914 shares, compared to its average volume of 6,797,907. The stock has a 50 day simple moving average of $26.86 and a 200 day simple moving average of $26.41. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21. Coterra Energy Inc. has a 12 month low of $22.91 and a 12 month high of $29.89. The firm has a market capitalization of $21.27 billion, a P/E ratio of 13.15 and a beta of 0.21.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 EPS 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 during the quarter, compared to the consensus estimate of $1.54 billion. As a group, analysts anticipate that Coterra Energy Inc. will post 1.88 earnings per share for the current year.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.84 annualized dividend and a dividend yield of 2.97%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s dividend payout ratio (DPR) is currently 39.25%.

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.