Simmons Bank Trims Holdings in Coterra Energy Inc. (NYSE:CTRA)

Simmons Bank lowered its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 4.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 120,432 shares of the company’s stock after selling 5,657 shares during the period. Simmons Bank’s holdings in Coterra Energy were worth $3,073,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in Coterra Energy by 9.6% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 49,131 shares of the company’s stock worth $1,254,000 after purchasing an additional 4,293 shares during the period. Apollon Wealth Management LLC increased its stake in Coterra Energy by 38.1% during the 4th quarter. Apollon Wealth Management LLC now owns 18,499 shares of the company’s stock worth $472,000 after buying an additional 5,099 shares during the period. Fielder Capital Group LLC acquired a new stake in Coterra Energy during the 4th quarter worth approximately $287,000. Private Advisor Group LLC boosted its position in Coterra Energy by 38.2% in the 4th quarter. Private Advisor Group LLC now owns 123,322 shares of the company’s stock valued at $3,147,000 after buying an additional 34,110 shares during the period. Finally, Wealthcare Advisory Partners LLC acquired a new position in shares of Coterra Energy in the fourth quarter worth $444,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insiders Place Their Bets

In related news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the completion of the transaction, the vice president now directly owns 93,988 shares in the company, valued at approximately $2,449,327.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Michael D. Deshazer sold 14,000 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of the firm’s 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 sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at $4,783,071.48. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Coterra Energy Price Performance

CTRA stock traded down $0.27 on Tuesday, reaching $28.08. 6,189,873 shares of the company’s stock were exchanged, compared to its average volume of 6,785,378. The stock has a fifty day moving average of $27.39 and a 200-day moving average of $26.34. The firm has a market cap of $21.11 billion, a PE ratio of 16.23 and a beta of 0.22. The company has a quick ratio of 1.18, a current ratio of 0.89 and a debt-to-equity ratio of 0.20. Coterra Energy Inc. has a twelve month low of $22.91 and a twelve month high of $29.89.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. As a group, equities analysts predict that Coterra Energy Inc. will post 1.82 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.21 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.84 annualized dividend and a yield of 2.99%. Coterra Energy’s dividend payout ratio (DPR) is currently 48.55%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CTRA shares. Stephens reiterated an “overweight” rating and issued a $39.00 price target on shares of Coterra Energy in a research note on Tuesday, January 23rd. Morgan Stanley boosted their target price on shares of Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. Stifel Nicolaus cut their price target on Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Barclays started coverage on Coterra Energy in a report on Wednesday, April 10th. They set an “overweight” rating and a $36.00 price target for the company. Finally, Truist Financial dropped their price objective on Coterra Energy from $30.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average target price of $32.73.

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.