Viking Fund Management LLC Raises Holdings in Coterra Energy Inc. (NYSE:CTRA)

Viking Fund Management LLC lifted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 222.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 290,000 shares of the company’s stock after buying an additional 200,000 shares during the quarter. Viking Fund Management LLC’s holdings in Coterra Energy were worth $7,407,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in shares of Coterra Energy by 28.4% during 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 during the period. Charles Schwab Investment Management Inc. raised its holdings in Coterra Energy by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after purchasing an additional 305,626 shares during the last quarter. Geode Capital Management LLC raised its holdings in Coterra Energy by 0.7% during the third quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock worth $453,628,000 after purchasing an additional 128,397 shares during the last quarter. Victory Capital Management Inc. boosted its position in Coterra Energy by 1.2% during the third quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after purchasing an additional 195,966 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its holdings in Coterra Energy by 5.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock valued at $128,085,000 after purchasing an additional 284,106 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insiders Place Their Bets

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $2,016,282. This trade represents a 27.78 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Coterra Energy Trading Down 1.1 %

Shares of CTRA opened at $29.13 on Wednesday. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The stock has a 50-day moving average price of $26.13 and a 200 day moving average price of $25.02. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company has a market capitalization of $21.46 billion, a P/E ratio of 17.55, a P/E/G ratio of 0.71 and a beta of 0.27.

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

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s dividend payout ratio is currently 50.60%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CTRA. UBS Group lifted 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. Susquehanna upped their price objective on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Wells Fargo & Company lifted their price objective on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Truist Financial upped their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Mizuho boosted their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $32.76.

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.