Wellington Management Group LLP Sells 7,247,119 Shares of Coterra Energy Inc. (NYSE:CTRA)

Wellington Management Group LLP decreased its position in Coterra Energy Inc. (NYSE:CTRA) by 11.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 54,564,415 shares of the company’s stock after selling 7,247,119 shares during the period. Wellington Management Group LLP owned about 7.26% of Coterra Energy worth $1,392,484,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of CTRA. HighTower Advisors LLC raised its stake in shares of Coterra Energy by 58.7% during the 3rd quarter. HighTower Advisors LLC now owns 195,281 shares of the company’s stock worth $5,274,000 after purchasing an additional 72,241 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Coterra Energy by 1.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 350,859 shares of the company’s stock worth $9,491,000 after purchasing an additional 4,272 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Coterra Energy by 5.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 238,479 shares of the company’s stock worth $6,504,000 after purchasing an additional 11,679 shares in the last quarter. Aviva PLC raised its stake in shares of Coterra Energy by 193.3% during the 3rd quarter. Aviva PLC now owns 86,732 shares of the company’s stock worth $2,346,000 after purchasing an additional 57,163 shares in the last quarter. Finally, Kestra Advisory Services LLC raised its stake in shares of Coterra Energy by 12.6% during the 3rd quarter. Kestra Advisory Services LLC now owns 409,427 shares of the company’s stock worth $11,075,000 after purchasing an additional 45,659 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

CTRA has been the topic of a number of research analyst reports. 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. Piper Sandler increased their price target on Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, May 14th. Scotiabank increased their price target on Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Mizuho upped their price objective on Coterra Energy from $37.00 to $41.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, Stifel Nicolaus decreased their price objective on Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $33.93.

Insider Activity at Coterra Energy

In related news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction that occurred 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 owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.70% of the stock is owned by insiders.

Coterra Energy Trading Down 1.5 %

Shares of CTRA traded down $0.41 during mid-day trading on Friday, reaching $26.73. 5,899,003 shares of the company were exchanged, compared to its average volume of 5,537,548. Coterra Energy Inc. has a 52 week low of $23.60 and a 52 week high of $29.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.49. The stock has a market capitalization of $19.89 billion, a PE ratio of 15.45 and a beta of 0.21. The business has a 50 day simple moving average of $27.78 and a two-hundred day simple moving average of $26.46.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.41 by $0.09. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.38 billion. On average, analysts predict that Coterra Energy Inc. will post 1.99 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were paid a $0.21 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.14%. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

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.