Stone House Investment Management LLC Increases Position in Coterra Energy Inc. (NYSE:CTRA)

Stone House Investment Management LLC lifted its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 32.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,791 shares of the company’s stock after buying an additional 438 shares during the period. Stone House Investment Management LLC’s holdings in Coterra Energy were worth $46,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CTRA. First Interstate Bank increased its position in Coterra Energy by 19.3% during the fourth quarter. First Interstate Bank now owns 9,282 shares of the company’s stock worth $237,000 after purchasing an additional 1,500 shares during the last quarter. Desjardins Global Asset Management Inc. increased its position in Coterra Energy by 18.8% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 9,646 shares of the company’s stock worth $246,000 after purchasing an additional 1,525 shares during the last quarter. Keel Point LLC acquired a new position in Coterra Energy during the fourth quarter worth approximately $204,000. Sentry Investment Management LLC increased its position in Coterra Energy by 353.0% during the fourth quarter. Sentry Investment Management LLC now owns 20,148 shares of the company’s stock worth $514,000 after purchasing an additional 15,700 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in Coterra Energy by 71.4% during the fourth quarter. Mackenzie Financial Corp now owns 129,031 shares of the company’s stock worth $3,293,000 after purchasing an additional 53,761 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Insider Transactions at Coterra Energy

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction 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 sale, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction 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 transaction, the vice president now directly 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. Insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Susquehanna raised shares of Coterra Energy from a “neutral” rating to a “positive” rating and dropped their price target for the stock from $31.00 to $30.00 in a research report on Friday, January 26th. Stephens reissued an “overweight” rating and issued a $39.00 price objective on shares of Coterra Energy in a research report on Tuesday, January 23rd. Barclays assumed coverage on shares of Coterra Energy in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price objective for the company. Bank of America raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Friday, January 5th. Finally, Raymond James increased their price objective on shares of Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.20.

Coterra Energy Stock Performance

Shares of Coterra Energy stock traded up $0.07 during trading hours on Wednesday, reaching $27.26. The company’s stock had a trading volume of 4,098,428 shares, compared to its average volume of 6,921,837. The company’s 50 day simple moving average is $26.47 and its 200 day simple moving average is $26.36. 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 one year low of $22.91 and a one year high of $29.89. The stock has a market cap of $20.50 billion, a P/E ratio of 12.80 and a beta of 0.21.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. As a group, analysts expect that Coterra Energy Inc. will post 1.92 EPS for the current fiscal year.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.21 dividend. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Wednesday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is presently 39.25%.

About Coterra Energy

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.