Coterra Energy Inc. (NYSE:CTRA) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lessened its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 15.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 489,276 shares of the company’s stock after selling 88,863 shares during the period. CANADA LIFE ASSURANCE Co owned 0.07% of Coterra Energy worth $13,651,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. purchased a new stake in shares of Coterra Energy in the 4th quarter valued at approximately $33,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Coterra Energy in the 4th quarter valued at approximately $33,000. Headlands Technologies LLC grew its stake in shares of Coterra Energy by 397.7% in the 4th quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock valued at $44,000 after buying an additional 1,392 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of Coterra Energy in the 1st quarter valued at approximately $44,000. Finally, Harbor Investment Advisory LLC grew its stake in shares of Coterra Energy by 869.3% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after buying an additional 1,443 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

CTRA has been the subject of several analyst reports. Bank of America reissued a “buy” rating and issued a $34.00 price target on shares of Coterra Energy in a research note on Friday, June 14th. Citigroup increased their price objective on shares of Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Mizuho increased their price objective on shares of Coterra Energy from $37.00 to $41.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Truist Financial lowered their price objective on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Monday. Finally, Piper Sandler increased their price objective on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $33.94.

Coterra Energy Stock Up 0.2 %

Shares of CTRA traded up $0.04 during midday trading on Thursday, reaching $25.83. The stock had a trading volume of 2,625,333 shares, compared to its average volume of 6,424,134. Coterra Energy Inc. has a 1-year low of $23.73 and a 1-year high of $29.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.46. The company has a market cap of $19.22 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.18 and a beta of 0.24. The company’s fifty day simple moving average is $27.19 and its two-hundred day simple moving average is $26.72.

Coterra Energy (NYSE:CTRA) last issued 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 net margin of 23.34% and a return on equity of 10.75%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.38 billion. Equities research analysts expect that Coterra Energy Inc. will post 2.04 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend was Wednesday, May 15th. Coterra Energy’s payout ratio is 48.55%.

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.