Gallacher Capital Management LLC Purchases New Position in Coterra Energy Inc. (NYSE:CTRA)

Gallacher Capital Management LLC acquired a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 21,062 shares of the company’s stock, valued at approximately $538,000.

Several other hedge funds also recently bought and sold shares of the company. SouthState Corp boosted its holdings in Coterra Energy by 75.4% during the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after purchasing an additional 454 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in shares of Coterra Energy in the 4th quarter valued at approximately $33,000. Tennessee Valley Asset Management Partners bought a new position in shares of Coterra Energy in the fourth quarter valued at $33,000. VisionPoint Advisory Group LLC increased its holdings in Coterra Energy by 133.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after buying an additional 740 shares during the last quarter. Finally, Headlands Technologies LLC raised its position in Coterra Energy by 397.7% during the fourth quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock worth $44,000 after acquiring an additional 1,392 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Price Performance

Shares of Coterra Energy stock traded up $1.03 during trading on Friday, reaching $28.19. 11,386,229 shares of the company’s stock were exchanged, compared to its average volume of 5,764,794. The company has a market cap of $21.19 billion, a P/E ratio of 16.29 and a beta of 0.22. 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 1-year low of $22.91 and a 1-year high of $29.89. The firm’s 50-day moving average price is $27.30 and its 200 day moving average price is $26.36.

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 analysts’ consensus estimates of $0.55 by ($0.06). The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.54 billion. Coterra Energy had a return on equity of 10.80% and a net margin of 23.34%. As a group, research analysts anticipate that Coterra Energy Inc. will post 1.82 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Wednesday, May 15th. Coterra Energy’s payout ratio is presently 48.55%.

Analyst Ratings Changes

Several research analysts have recently weighed in on CTRA shares. UBS Group boosted their price objective on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Mizuho boosted their price target on Coterra Energy from $34.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday. Raymond James raised their price objective on Coterra Energy from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Susquehanna boosted their target price on Coterra Energy from $30.00 to $32.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Finally, JPMorgan Chase & Co. increased their price target on Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $32.67.

Insider Activity at Coterra Energy

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total value of $1,488,300.00. Following the transaction, the chief accounting officer now owns 176,758 shares in the company, valued at $4,783,071.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Michael D. Deshazer sold 14,000 shares of the company’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 completion of the transaction, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

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.