Coterra Energy Inc. (NYSE:CTRA) Shares Acquired by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. increased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 7.8% in the fourth quarter, Holdings Channel reports. The firm owned 10,126 shares of the company’s stock after buying an additional 731 shares during the period. First Citizens Bank & Trust Co.’s holdings in Coterra Energy were worth $259,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CTRA. Wellington Management Group LLP grew its position in Coterra Energy by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after acquiring an additional 15,736,247 shares in the last quarter. Holocene Advisors LP grew its holdings in shares of Coterra Energy by 187.2% in the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock valued at $108,572,000 after purchasing an additional 2,954,675 shares in the last quarter. Weiss Asset Management LP purchased a new stake in Coterra Energy during the 3rd quarter worth approximately $28,380,000. Erste Asset Management GmbH acquired a new stake in Coterra Energy during the 3rd quarter worth approximately $21,555,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Coterra Energy by 395.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 899,838 shares of the company’s stock valued at $21,551,000 after buying an additional 718,182 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $27.90 on Wednesday. The stock has a market cap of $20.55 billion, a P/E ratio of 16.81, a P/E/G ratio of 0.65 and a beta of 0.27. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The stock has a 50 day moving average of $26.49 and a two-hundred day moving average of $25.11. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the company earned $0.47 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, research analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.01%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CTRA shares. Citigroup upped their price objective on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Wells Fargo & Company increased their price target on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. UBS Group boosted their price objective on Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Mizuho raised their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Finally, Raymond James boosted their price target on shares of Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.18.

Insider Buying and Selling at Coterra Energy

In other news, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the transaction, the senior vice president now directly owns 77,075 shares in the company, valued at $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the transaction, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

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.