First Interstate Bank Increases Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

First Interstate Bank grew its position in Coterra Energy Inc. (NYSE:CTRA) by 19.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,282 shares of the company’s stock after buying an additional 1,500 shares during the quarter. First Interstate Bank’s holdings in Coterra Energy were worth $237,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CTRA. ICA Group Wealth Management LLC acquired a new stake in shares of Coterra Energy during the fourth quarter valued at $25,000. SouthState Corp boosted its stake in Coterra Energy by 75.4% in the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after buying an additional 454 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in Coterra Energy in the 4th quarter worth about $33,000. VisionPoint Advisory Group LLC boosted its stake in Coterra Energy by 133.3% in the 3rd 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, Achmea Investment Management B.V. acquired a new stake in Coterra Energy in the 1st quarter worth about $41,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of Coterra Energy stock remained flat at $27.19 on Wednesday. The stock had a trading volume of 6,903,273 shares, compared to its average volume of 5,983,687. The business has a fifty day simple moving average of $26.47 and a two-hundred day simple moving average of $26.36. The stock has a market cap of $20.44 billion, a price-to-earnings ratio of 12.71 and a beta of 0.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18. Coterra Energy Inc. has a 12 month low of $22.91 and a 12 month high of $29.89.

Coterra Energy (NYSE:CTRA) last announced its 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). The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.54 billion. Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. On average, equities analysts anticipate that Coterra Energy Inc. will post 1.92 earnings per share for the current fiscal year.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.09%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 13th. Coterra Energy’s payout ratio is presently 39.25%.

Analysts Set New Price Targets

CTRA has been the topic of a number of research analyst reports. Barclays initiated coverage on Coterra Energy in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price target on the stock. UBS Group raised their target price on Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a report on Friday, March 1st. Mizuho reiterated a “buy” rating and issued a $34.00 price target on shares of Coterra Energy in a report on Wednesday, April 3rd. JPMorgan Chase & Co. boosted their price target on Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, Scotiabank boosted their price objective on Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Insider Activity at Coterra Energy

In related news, CAO Todd M. Roemer sold 55,000 shares of the company’s 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 transaction, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Todd M. Roemer sold 55,000 shares of the company’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 completion of the sale, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the sale, the vice president now 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. 1.70% of the stock is owned by 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.